Caraco Pharmaceutical Laboratories, Ltd. (CPD)

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Caraco Pharmaceutical Laboratories, Ltd. Announces Settlement of Ethyol(R) ANDA Patent Litigation
Press Release
Source: Caraco Pharmaceutical Laboratories, Ltd.
On Monday August 3, 2009, 12:22 am EDT

Companies:Caraco Pharmaceutical Laboratories Ltd.
DETROIT, Aug. 3 /PRNewswire-FirstCall/ -- Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) announces today that it has executed a settlement agreement with MedImmune, stipulating the dismissal of the lawsuits filed in the United States District Court for the District of Maryland regarding the submission of an Abbreviated New Drug Application (ANDA) for a generic version of Ethyol®.

Under the settlement agreement, MedImmune grants Caraco a license to certain patents, permitting Caraco to continue marketing a generic version of Ethyol® in the United States. The settlement resolves the entirety of the litigations between the parties.

The terms of the settlement are confidential.

Detroit-based Caraco Pharmaceutical Laboratories, Ltd., develops, manufactures, markets and distributes generic and private-label pharmaceuticals to the nation's largest wholesalers, distributors, drugstore chains and managed care providers.