Piramal, Baxter settle patent issueNovember 1st, 2011 - 8:32 pm ICT by IANS
Mumbai, Nov. 1 (IANS) Piramal Critical Care Inc. and Baxter Healthcare Corporation have reached a settlement in a patent suit, enabling the former to launch its generic Desflurane in US markets from Jan 1, 2014.
Consequent to the settlement, a patent suit between the two pharma majors has been dismissed by the District Court of Delaware in the US, an official said here Tuesday.
According to the settlement, Piramal has obtained a licence for the Baxter patent, enabling the former to launch its generic Desflurane in the US from Jan 2014 subject to US regulatory approval.
Piramal has also agreed not to make, use, sell or offer for sale in the US, or import into the US, the product before Jan 2014.
However, Piramal has taken a licence under the patent under which both parties have agreed that it (Piramal) may manufacture its generic Desflurane in the US from April 24, 2012, which would be only for sale outside the US markets - mainly in the European Union region - where it has obtained or would get regulatory registrations.
Led by Ajay Piramal, the Piramal Group turnover was in excess of $900 million in the current fiscal.
One of the largest custom manufacturing companies in the world, Piramal Healthcare notched $650 million turnover in the current fiscal and has facilities in North America, Europe and Asia.
Recently, Piramal Healthcare made waves when it sold its domestic formulation business to Abbott for $3.8 billion.
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- Piramal concludes sale of formulations business to Abott - Sep 08, 2010
- Piramal sells healthcare business to US firm - May 21, 2010
- Abbott to buy Piramal's branded drugs business for $3.71 bn (Roundup) - May 21, 2010
- Abbott to buy Piramal's branded drugs business for $3.71 bn (Lead) - May 21, 2010
- Public not to be hit if Natco Pharma licence cancelled: Bayer - Sep 03, 2012
- Foreign investment in pharma to face competition check - Oct 11, 2011
- Stay on cancer drug licence may harm public: Natco Pharma - Sep 05, 2012
- Competition check for FDI in pharma will help consumers: CUTS - Oct 11, 2011
- Cancer drug: Natco Pharma told to file reply by Aug 25 - Aug 21, 2012
- Abbott Labs pays 3.7 bn dollars to buy into Mumbai's Piramal Healthcare - May 22, 2010
- Ranbaxy to launch anti-diabetic drug Actos by 2012 - Mar 15, 2010
- MNCs gaining control on Indian drug market - Aug 04, 2010
- US trade group sends life sciences mission to India - Jan 31, 2012
- Regulate foreign investment for cheaper medicines: Azad - Nov 01, 2010
Tags: abbott, ajay, april 24, baxter healthcare, baxter healthcare corporation, critical care inc, desflurane, district court of delaware, european union, group turnover, majors, manufacturing companies, north america europe, nov 1, patent issue, patent suit, piramal group, registrations, regulatory approval, waves