NEW YORK, July 10, 2009 /PRNewswire-FirstCall/ -- Forest Laboratories,
Inc. (NYSE: FRX) and its wholly-owned subsidiary, Forest Laboratories
Holdings, Ltd. (collectively, "Forest"), and H. Lundbeck A/S ("Lundbeck")
announced today that they have entered into a settlement agreement with Sun
Pharmaceutical Industries Ltd. ("Sun Pharma", a reference that includes its
100% subsidiaries) and Caraco Pharmaceutical Laboratories, Ltd. ("Caraco"),
regarding pending patent infringement disputes regarding U.S. Patent Re. No.
34,712, U.S. Patent No. 6,916,941, and U.S. Patent No. 7,420,069, which were
licensed to Forest by H. Lundbeck A/S on an exclusive basis in the United
States. These patents are listed in the U.S. Food and Drug Administration's
Orange Book for Forest's LEXAPRO(R) brand escitalopram oxalate tablet
products.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001011/FORESTLOGO)
Pursuant to the terms of the settlement agreement with Sun Pharma and
Caraco, and subject to review of the settlement terms by the U.S. Federal
Trade Commission:
- Forest and Lundbeck will provide licenses to Caraco for any patents
related to LEXAPRO(R) with respect to the marketing of Caraco's generic
version of the product as of the date that any third party generic that
has properly received final approval from the FDA enters the market,
other than an authorized generic or the first filer with Hatch-Waxman
related exclusivity.
- Caraco will take over the commercialization and sale of several
products from Forest's Inwood business. Caraco will pay Forest an
undisclosed advance against royalties and royalties on net sales of
these products.
- In exchange for an upfront payment (and royalties but only if the
technology is used), Sun Pharma will license to Lundbeck on a worldwide
basis certain patent applications related to the synthesis of
escitalopram and citalopram.
Forest and Lundbeck will reimburse certain of Caraco's legal costs in
connection with these patent litigations.
About Forest Laboratories
Forest Laboratories (NYSE: FRX) is a U.S.-based pharmaceutical company
with a long track record of building partnerships and developing and marketing
products that make a positive difference in people's lives. In addition to its
well-established franchises in therapeutic areas of the central nervous and
cardiovascular systems, Forest's current pipeline includes product candidates
in all stages of development and across a wide range of therapeutic areas. The
company is headquartered in New York, NY. To learn more about Forest
Laboratories, visit www.FRX.com.
Except for the historical information contained herein, this release
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve a number
of risks and uncertainties, including the difficulty of predicting FDA
approvals, the acceptance and demand for new pharmaceutical products, the
impact of competitive products and pricing, the timely development and launch
of new products, and the risk factors listed from time to time in Forest
Laboratories' Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and
any subsequent SEC filings.
SOURCE Forest Laboratories, Inc.
CONTACT: Frank J. Murdolo, Vice President - Investor Relations, of
Forest Laboratories, Inc., +1-212-224-6714, or Frank.Murdolo@frx.com
Web Site: http://www.frx.com
(FRX FRX)