Forest Laboratories, Inc. Announces Additional Settlement Agreement in
BYSTOLIC® Patent Litigation
NEW YORK -- January 3, 2013
Forest Laboratories, Inc. (NYSE: FRX) and Forest Laboratories Holdings, Ltd.
(collectively, "Forest") announced today that they have entered into a
settlement agreement with Glenmark Generics Inc., USA, Glenmark Generics Ltd.,
and Glenmark Pharmaceuticals Ltd. (collectively, "Glenmark") in patent
infringement litigation brought by Forest in response to Glenmark's
abbreviated new drug application (ANDA) seeking approval to market generic
versions of Forest's BYSTOLIC® (nebivolol) tablets. This settlement agreement
is in addition to the previously announced BYSTOLIC® patent infringement
settlement agreements with Hetero Labs Ltd., Alkem Laboratories, Ltd.,
Indchemie Health Specialties Pvt. Ltd., and Torrent Pharmaceuticals Ltd.
Specifically, under the terms of the settlement agreement and subject to
review of the settlement terms by the U.S. Federal Trade Commission, Forest
will provide a license to Glenmark that will permit it to launch its generic
versions of BYSTOLIC® as of the date that is the later of (a) three calendar
months prior to the expiration of U.S. Patent No. 6,545,040, including any
extensions and/or pediatric exclusivities or (b) the date Glenmark receives
final FDA approval of its ANDA, or earlier in certain circumstances. Similar
patent infringement litigation brought by Forest against Amerigen
Pharmaceuticals Ltd. and Watson Pharmaceuticals Inc., and related companies
and subsidiaries thereof, remains pending in a multidistrict litigation
established in the U.S. District Court for the Northern District of Illinois.
About Forest Laboratories
Forest Laboratories, Inc. (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. Forest assumes no obligation to update
forward-looking statements contained in this release to reflect new
information or future events or developments.
Forest Laboratories, Inc.
Frank J. Murdolo, 1-212-224-6714
Vice President - Investor Relations
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