Sepracor Settles Patent Dispute
Marlborough-based Sepracor Inc. announced that it has settled a patent dispute over its Xopenex brand asthma inhaler with Teva Pharmaceuticals USA Inc. and Barr Laboratories.
Under the agreement Sepracor has agreed to let Teva and Barr license the product as generic inhalers.
"We are very pleased with the resolution of our patent infringement dispute with Barr and patent issues with Teva as it allows all parties to avoid the uncertainties and expenses related to patent litigation," said Adrian Adams, Sepracor's president and CEO, in a prepared statement. "With the lawsuit and these patent issues behind us, Sepracor can continue to focus on fully leveraging each of our product franchises and advancing our research and development candidates."
Teva and Barr will pay Sepracor a royalty on their respective profit margins from sales of the generic inhalers, and all parties agreed to file a consent final judgment and dismissal in the U.S. District Court for the District of Delaware, which will end the original lawsuit.
Barr Laboratories challenged Sepracor's patents for Xopenexin 2007, and Sepracor filed suit to prevent Barr from making the drug. Teva Pharmaceuticals, based in Israel with American headquarters in New Jersey bought New York-based Barr Laboratories in December for $7.46 billion.
The settlement and license agreement must also be submitted to the U.S. Federal Trade Commission and the U.S. Dept. of Justice for review.
Sepracor reported $308 million in revenue for the most recent quarter, which ended Sept. 30, 2008. The drug maker also reported more than $19 million in profit for the quarter.
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