Watson Pharma (WPI) and Elan Settle Lawsuit Related to Generic Naprelan(R) Tablets
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Late Friday, Watson Pharmaceuticals, Inc. (NYSE: WPI) announced that it has reached a settlement with Elan Corporation, Plc on outstanding patent litigation related to Watson's generic version of Naprelan(R) (naproxen sodium) tablets.
Under the terms of the agreement, Watson will pay Elan $18 million in full settlement of all disputes related to Watson's development, manufacturing, marketing and sale of its naproxen sodium product. Watson also has agreed not to market or sell its naproxen sodium product until the expiration or final finding of invalidity or unenforceability of U.S. Patent No. 5,637,320. Other details concerning the settlement have not been disclosed.
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