Egis and partner reach agreement with AstraZeneca on patent litigation
Hungarian drug company Egis and business partner Actavis have reached a settlement agreement withAstraZeneca resolving outstanding patent litigation related to the Egis-developed generic version of Crestor tablets (rosuvastatin calcium) as well as rosuvastatin zinc alternate salt product, Egis announced on Monday. Under the terms of the settlement agreement, Actavis, formerly known as Watson Pharmaceuticals, can launch its rosuvastatin calcium product, the generic version of Crestor, 67 days prior to July 8, 2016, the expiration of pediatric exclusivity, or earlier under certain circumstances. As part of the agreement, Actavis is permitted, beginning May 2, 2016 or earlier under certain circumstances, to launch the rosuvastatin zinc alternate salt product, which the US Food and Drug Administration (FDA) tentatively approved in August 2011. However, at this time, Actavis has made no decision regarding a potential launch. Based on the contractual arrangements made between Egis and Actavis, Egis will also benefit from the sales of Actavis' generic rosuvastatin calcium, which the FDA tentatively approved in June 2011. French pharmaceutical company Servier owns a 50.91% stake in Egis, which is an A-category issuer at the Budapest Stock Exchange.
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