Sun Pharmaceutical settles litigation over generic Exelon® with Novartis

Sun Pharmaceutical Industries Ltd has announced that it has executed a settlement agreement with Novartis stipulating a dismissal of the lawsuits filed in the United States against the Company regarding submission of an Abbreviated New Drug Application (ANDA) for a generic version of Exelon®, rivastigmine tartrate capsules.

Earlier, USFDA had granted final approval for the Company's ANDA to market its generic Exelon®.

Under the terms of the settlement agreement, Sun Pharma will not market generic Exelon® in the U.S. until sometime prior to the expiration of the patents covering Exelon®. The specific date on which Sun may launch and the other terms of the agreement are confidential.

The Sun Pharma stock was trading at Rs.1090, down by Rs.17.75 or 1.60%. The stock hit an intraday high of Rs.1125 and low of Rs.1069.

The total traded quantity was 35995 compared to 2 week average of 9945.

Source : Equity Bulls

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