Lupin announces litigation settlement with Forest Laboratories
Pharma major, Lupin announced today that it has settled all ongoing Hatch Waxman litigation relating to memantine tablets, Lupin`s generic version of Forest Laboratories, Alzheimer disease treatment ``Namenda`` tablets. As per the terms of the settlement, Lupin will be licensed under the relevant patents and would be free to commercially launch its generic product in Jan.2015 or earlier in certain circumstances. Commenting on the settlement, Nilesh Gupta, group president and executive director to the board, Lupin said, `` The settlement with Forest is in line with us prudently managing our litigation pipeline and creating value for the company. WE are committed to bringing high quality, cost effective products to the market in the earliest time frame possible.`` Shares of Lupin declined Rs 51.05, or 3.41%, to trade at Rs 1,448.The total volume of shares traded was 55,129 at the BSE.
Milam Co. has settled a multimillion dollar appraisal lawsuit with Luminant, the county's largest employer.