NEW YORK, Aug. 26 /PRNewswire-FirstCall/ -- Forest Laboratories, Inc. (NYSE: FRX) announced today that pursuant to a joint status update entered into the public docket in the United States District Court for the District of Delaware, the Company and defendant Alphapharm Pty Ltd. have advised the Court that they have signed a term sheet and are negotiating in good faith towards a full resolution of their pending patent infringement dispute regarding U.S. Patent Re. No. 34,712, which relates to Forest's Lexapro(R) (escitalopram oxalate) product. (Logo: http://www.newscom.com/cgi-bin/prnh/20001011/FORESTLOGO ) Forest and its licensing partner H. Lundbeck A/S are currently involved in litigation relating to its patent on Lexapro(R) with Alphapharm, Ivax Pharmaceuticals, Inc., and Cipla Ltd. The signed term sheet with Alphapharm does not affect the status of Ivax or Cipla as defendants in the pending litigation. The specific terms of a potential settlement with Alphapharm were not disclosed and there can be no assurance that a final binding settlement can be reached. Forest remains confident in the strength of its patent, and a patent infringement trial is currently scheduled to begin in the United States District Court for the District of Delaware on December 5, 2005. Except for the historical information contained herein, this release contains "forward-looking statements" within the meaning of the Private Securities Reform Act of 1995. These statements are subject to risks and uncertainties that affect our business, including risk factors listed from time to time in the Company's SEC reports, including the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2005 and quarterly report filed on Form 10-Q for the period ended June 30, 2005. Actual results may differ materially from those projected. SOURCE Forest Laboratories, Inc. CONTACT: Charles E. Triano, Vice President - Investor Relations Forest Laboratories, Inc., Tel: +1-212-224-6714, Charles.Triano@frx.com -0- Aug/26/2005 16:00 GMT
Forest Laboratories Updates Lexapro Patent Litigation Status
Press spacebar to pause and continue. Press esc to stop.