Actavis Reaches Agreement with Shire to Launch a Generic Version of Intuniv®
in December 2014
- 180 Days of Exclusivity -
PARSIPPANY, N.J., April 25, 2013
PARSIPPANY, N.J., April 25, 2013 /PRNewswire/ -- Actavis, Inc. (NYSE: ACT), a
leading specialty pharmaceutical company, today announced that is has reached
a settlement agreement with Shire plc resolving outstanding patent litigation
related to Actavis' generic version of INTUNIV^® (guanfacine hydrochloride)
for the treatment of Attention Deficit Hyperactivity Disorder. The settlement
also resolves outstanding litigation against legacy Watson's Abbreviated New
Drug Application (ANDA), which remains pending at the United States Food and
Drug Administration (FDA).
On October 5, 2012, the FDA granted final approval of Actavis' ANDA for a
generic version of INTUNIV® and awarded Actavis 180 days of ANDA market
exclusivity. Under the terms of the agreement, Actavis can launch its generic
version of INTUNIV^® on December 1, 2014, or earlier under certain
circumstances. Shire will receive a 25 percent royalty on Actavis' gross
profits from sales during the period of Actavis' exclusivity. Other details
of the settlement were not disclosed.
"The launch of a generic version of Intuniv® on December 1, 2014 ensures that
consumers will benefit from an earlier launch of a guanfacine hydrochloride
product," said Paul Bisaro, President and CEO of Actavis, Inc.
INTUNIV^® had U.S. sales of approximately $475 million for the 12 month period
ending January 31, 2013 according to IMS Health.
About Actavis, Inc.
Actavis, Inc. (NYSE: ACT) is a global, integrated specialty pharmaceutical
company focused on developing, manufacturing and distributing generic, brand
and biosimilar products. The Company has global and U.S. headquarters in
Parsippany, New Jersey, USA, and international headquarters in Zug,
Actavis is the world's third-largest generics prescription drug manufacturer.
Operating as Actavis Pharma, the Company develops, manufactures and markets
generic, branded generic, legacy brands and Over-the-Counter (OTC) products in
more than 60 countries. The Company is ranked in the top 3 in 12 global
markets, the top 5 in 16 global markets, and in the top 10 in 33 global
markets. Actavis Pharma also develops and out-licenses generic
pharmaceutical products outside the U.S. through its Medis third-party
business, a world leading generic pharmaceutical out-licensing business. Medis
has more than 300 customers globally, and offers a broad portfolio of more
than 200 products.
Actavis Specialty Brands is the Company's global branded specialty
pharmaceutical business, which develops and markets a portfolio of
approximately 40 products principally in the United States and Canada that are
focused in the Urology and Women's Health therapeutic categories. Actavis
Specialty Brands is committed to developing and marketing biosimilars products
in Women's Health, Oncology and other therapeutic categories, and currently
has a portfolio of five biosimilar products in development.
Actavis Global Operations has more than 30 manufacturing and distribution
facilities around the world, with a capacity of approximately 44 billion units
annually. Actavis Global Operations also includes Anda, Inc., the
fourth-largest U.S. generic pharmaceutical product distributor in the United
For press release and other company information, visit Actavis' Web site at
Statements contained in this press release that refer to non-historical facts
are forward-looking statements that reflect Actavis' current perspective of
existing information as of the date of this release. It is important to note
that Actavis' goals and expectations are not predictions of actual
performance. Actual results may differ materially from Actavis' current
expectations depending upon a number of factors, risks and uncertainties
affecting Actavis' business. These factors include, among others, the
difficulty of predicting the timing or outcome of product development efforts,
including FDA and other regulatory agency approvals and actions, if any; the
impact of competitive products and pricing; the timing and success of product
launches; risks that resolution of patent infringement litigation through
settlement could result in investigations or actions by private parties or
government authorities or agencies; difficulties or delays in manufacturing;
the availability and pricing of third party sourced products and materials;
successful compliance with FDA and other governmental regulations applicable
to Actavis' and its third party manufacturers' facilities, products and/or
businesses; changes in the laws and regulations, including Medicare and
Medicaid, affecting among other things, pricing and reimbursement of
pharmaceutical products; and such other risks and uncertainties detailed in
Actavis' periodic public filings with the Securities and Exchange Commission,
including but not limited to Actavis' Annual Report on Form 10-K for the year
ended December 31, 2012. Except as expressly required by law, Actavis
disclaims any intent or obligation to update these forward-looking statements.
INTUNIV^® is a trademark of Shire LLC.
(Logo: http://photos.prnewswire.com/prnh/20130124/NY47381LOGO )
SOURCE Actavis, Inc.
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