Glenmark settles patent dispute with GSK

Glenmark settles patent dispute with GSK
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First Published: Mon, Apr 12 2010. 11 19 AM IST
Updated: Mon, Apr 12 2010. 11 19 AM IST
Mumbai: Glenmark Pharmaceuticals Ltd said on Monday its unit settled a litigation with GlaxoSmithKline LLC over patent actions on doses of atovaquone and proguanil hydrochloride, the generic version of GSK’s Malarone malaria treatment tablets.
Under terms of the settlement, Glenmark Generics would be able to market and distribute the generic version of Malarone tablets under a royalty-bearing license from GSK in the third quarter of calendar year 2011, or earlier in certain circumstances, it said in a statement.
Malarone had sales of $56 million in the calendar year 2009 in the US market, it said.
“This would be launched only in FY12 and it’s a very small product,” a sector analyst told Reuters over the telephone, adding, “It would be incremental to the earnings (of Glenmark in FY12).”
The paragraph-IV settlement with GSK enables Glenmark to sell Malarone’s generic version for 180 days beginning October 2011 on exclusive basis, the analyst said.
At 11:20 a.m., shares of Glenmark Pharmaceuticals were trading at 276.25 rupees, down 0.93% in a flat Mumbai market.
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First Published: Mon, Apr 12 2010. 11 19 AM IST