Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Somaxon Pharmaceuticals Announces Settlement of Silenor Patent Litigation With Actavis

Somaxon Pharmaceuticals Announces Settlement of Silenor Patent Litigation With

SAN DIEGO, Feb. 5, 2013 (GLOBE NEWSWIRE) -- Somaxon Pharmaceuticals, Inc.
(Nasdaq:SOMX), a specialty pharmaceutical company, today announced that it has
entered into a settlement agreement with Actavis Elizabeth LLC and Actavis
Inc. to resolve pending patent litigation involving Silenor® 3 mg and 6 mg

The settlement agreement grants Actavis the right to begin selling a generic
version of Silenor on January 1, 2020, or earlier under certain circumstances.
The settlement agreement will become effective upon the entry by the U.S.
District Court for the District of Delaware of an order dismissing the
litigation with respect to Actavis.

"We are pleased to enter into this settlement agreement, which resolves the
last of our four patent litigation lawsuits relating to Silenor," said Richard
W. Pascoe, Somaxon's President and Chief Executive Officer. "With exclusivity
for Silenor for the next seven years, we believe that commercial resources can
confidently be devoted to Silenor going forward to grow sales of the product."

About Somaxon Pharmaceuticals, Inc.

Headquartered in San Diego, CA, Somaxon Pharmaceuticals, Inc. is a specialty
pharmaceutical company focused on the in-licensing, development and
commercialization of proprietary branded products and product candidates to
treat important medical conditions where there is an unmet medical need and/or
high level of patient dissatisfaction, currently in the central nervous system
therapeutic area. Somaxon's product Silenor, available by prescription in the
United States, is indicated for the treatment of insomnia characterized by
difficulty with sleep maintenance.

For more information, please visit the company's web site at

The Somaxon Pharmaceuticals logo is available at

Safe Harbor Statement

Somaxon cautions readers that statements included in this press release that
are not a description of historical facts are forward-looking statements. For
example, statements regarding the settlement of litigation with Actavis and
the entry by the U.S. District Court for the District of Delaware of an order
dismissing the litigation with respect to Actavis, the potential to grow sales
of Silenor and Somaxon's other activities and plans are forward-looking
statements. The inclusion of forward-looking statements should not be regarded
as a representation by Somaxon that any of its plans will be achieved. Actual
results may differ materially from those set forth in this release due to the
risks and uncertainties inherent in Somaxon's business, including, without
limitation, Somaxon's ability to successfully market and sell Silenor; the
market potential for insomnia treatments, and Somaxon's ability to compete
within that market; risks related to the settlement agreements with Actavis,
including any legal or regulatory challenges to the settlement agreement by
the U.S. Department of Justice and/or the U.S. Federal Trade Commission, and
the outcome of any such challenges; the scope, validity and duration of patent
protection and other intellectual property rights for Silenor; whether the
approved label for Silenor is sufficiently consistent with such patent
protection to provide exclusivity for Silenor; Somaxon's ability to
successfully enforce its intellectual property rights and defend its patents;
the potential to enter into an agreement with any third party relating to
over-the-counter rights for Silenor; Somaxon's ability, together with any
partner, to receive FDA approval for an over-the-counter version of Silenor;
changes in healthcare reform measures and reimbursement policies; the ability
of Somaxon to ensure adequate and continued supply of Silenor to successfully
meet anticipated market demand; Somaxon's ability to operate its business
without infringing the intellectual property rights of others; Somaxon's
reliance on its licensees, Paladin Labs and CJ CheilJedang, for critical
aspects of the commercial sales process for Silenor outside of the United
States; the performance of Paladin and CJ CheilJedang and their adherence to
the terms of their contracts with Somaxon; inadequate therapeutic efficacy or
unexpected adverse side effects relating to Silenor that could adversely
impact commercial success, or that could result in recalls or product
liability claims; other difficulties or delays in development, testing,
manufacturing and marketing of Silenor; the timing and results of
post-approval regulatory requirements for Silenor, and the FDA's agreement
with Somaxon's interpretation of such results; and other risks detailed in
Somaxon's prior press releases as well as in its periodic filings with the

Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. All forward-looking
statements are qualified in their entirety by this cautionary statement, and
Somaxon undertakes no obligation to revise or update this press release to
reflect events or circumstances after the date hereof. This caution is made
under the safe harbor provisions of Section 21E of the Securities Exchange Act
of 1934.

CONTACT: Tran Nguyen / CFO
         Somaxon Pharmaceuticals, Inc.
         (858) 876-6500

Somaxon Pharmaceuticals, Inc. Logo
Sponsored Links
Sponsored Links