(MENAFN- Swissinfo)
According to court documents cited by Reuters, annual sales of Exforge in the US were over $400 million before the generic versions were marketed. © Keystone / Urs Flueeler
The Swiss pharma company has reached a“tentative agreement” to settle a class-action lawsuit related to the launch of a generic version of its blood pressure treatment drug. The deal has yet to be approved by US judges.
This content was published on December 29, 2022 - 09:44 December 29, 2022 - 09:44 Keystone-SDA/dos Português
(pt)
novartis chega a um acordo extrajudicial na disputa sobre medicamentos genéricos nos eua
The Basel-based multinational told the AWP news agency on Thursday it had agreed to pay $245 million (CHF227 million) to three groups of plaintiffs to fully settle the case.
The dispute is about a 2011 patent agreement between Novartis and Par, a pharmaceutical subsidiary of US-based Endo International. The two companies were accused of illegally colluding to delay the launch of generic versions of Novartis' Exforge, a treatment designed to lower blood pressure and reduce the risk of stroke.
The plaintiffs accused Par of agreeing not to launch a generic of Exforge for two years after a patent expired. They also accused Novartis of agreeing not to compete with its partner by launching its own generic for 180 days after Par entered the market.
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