The stock was up nearly 3% at Rs 743 on the Bombay Stock Exchange.
Cadila Healthcare is trading higher by 2.5% at Rs 743 after the pharmaceuticals company said it has settled a patent litigation with US-based Warner Chilcott Company LLC.
The stock opened at Rs 735 and touched a high of Rs 749 on the National Stock Exchange (NSE). A combined 253,324 shares have changed hands on the counter till 1040 hours on the NSE and BSE.
“Cadila Healthcare and its US subsidiary Zydus Pharmaceuticals (USA) Inc have entered into an agreement in principle with Warner Chilcott Company LLC to settle all outstanding patent litigation related to Asacol HD (mesalamine) delayed-release tablets. The agreement remains subject to preparation and execution of definitive documentation,” Zydus Cadila said in a BSE filing.
Under the terms of the agreement, Warner Chilcott Company will in principle grant Cadila and Zydus a royalty-bearing license to market a generic version of its patented drug Asacol HD beginning on November 15, 2015 or earlier after Zydus gets the nod from the U.S. Food and Drug Administration (USFDA) of its Abbreviated New Drug Application (ANDA) for generic version of Asacol HD.
Alternatively, if Zydus does not receive USFDA approval of its generic version of Asacol HD by July 1, 2016, Zydus will be permitted to launch an authorized generic version of Asacol HD beginning on July 1, 2016. Other terms of the settlement were not disclosed, the company said.
The stock opened at Rs 735 and touched a high of Rs 749 on the National Stock Exchange (NSE). A combined 253,324 shares have changed hands on the counter till 1040 hours on the NSE and BSE.
“Cadila Healthcare and its US subsidiary Zydus Pharmaceuticals (USA) Inc have entered into an agreement in principle with Warner Chilcott Company LLC to settle all outstanding patent litigation related to Asacol HD (mesalamine) delayed-release tablets. The agreement remains subject to preparation and execution of definitive documentation,” Zydus Cadila said in a BSE filing.
Under the terms of the agreement, Warner Chilcott Company will in principle grant Cadila and Zydus a royalty-bearing license to market a generic version of its patented drug Asacol HD beginning on November 15, 2015 or earlier after Zydus gets the nod from the U.S. Food and Drug Administration (USFDA) of its Abbreviated New Drug Application (ANDA) for generic version of Asacol HD.
Alternatively, if Zydus does not receive USFDA approval of its generic version of Asacol HD by July 1, 2016, Zydus will be permitted to launch an authorized generic version of Asacol HD beginning on July 1, 2016. Other terms of the settlement were not disclosed, the company said.
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