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New Delhi, Jan. 21 Ranbaxy Laboratories has announced an out-of-court settlement to its patent dispute with GlaxoSmithKline over the migraine drug, Imitrex.

According to the terms of settlement, Ranbaxy will be able to distribute generic version of the drugs in three strengths (25 mg, 50 mg and 100 mg) in the US from December, 2008, enjoying a 180-day market exclusivity post the registered drug’s patent expiry.

The company claims that the annual market sales for the drug is at $985 million. Other details of the settlement agreement were not shared.

According to analysts, the drug could bring the company $90-100 million in sales during the six-month period.

Dr Reddy’s, which has an agreement with GSK to sell “authorised generic” version of the drug will also be selling sumatriptan succinate tablets, or generic Imitrex during the period.

This is the third out of court settlement for Ranbaxy for billion dollar drugs in the last six month. In July, 2007 last year, the company announced a deal with GlaxoSmithKline for Valtrex, which it expects to launch with 180-day market exclusivity in the second half of 2009.

More Stories on : Corporate Disputes | IPR | Ranbaxy Laboratories Ltd | Glaxosmithkline Pharmaceuticals Ltd

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