Mumbai: Indian drugmaker Ranbaxy Laboratories Ltd said on Monday, January 21 that it had settled with GlaxoSmithKline on a possible patent litigation for a generic version of the firm’s Imitrex tablets, propping its share up in a falling market.
Under the terms of the settlement, Ranbaxy may sell a generic version, sumatriptan succinate tablets, in multiple strengths in the United States from December 2008, it said in a statement.
Other terms of the settlement agreement were not disclosed.
Annual sales of Imitrex were $985 million, Ranbaxy estimates.
At 0510 GMT, Ranbaxy’s shares were up 0.9% at Rs390 , while the benchmark index was down 2.8%.