11/03/2008 | Anchen Announces Settlement of Litigation with Wyeth Relating to Venlafaxine ER Capsules
IRVINE, Calif.- November 3, 2008 - Anchen Pharmaceuticals, Inc. (“Anchen”) announced today the settlement with Wyeth (NYSE:WYE) of the U.S. patent infringement litigation pertaining to Anchen’s proposed generic capsule formulation of Wyeth’s EFFEXOR® XR, an antidepressant, and that the settlement has been approved by the U.S. District Court for the Central District of California.

 

Under the terms of the settlement, Wyeth has granted Anchen a license permitting it to launch a generic capsule formulation of EFFEXOR® XR on or after June 1, 2011, subject to an earlier launch in limited circumstances, but in no event earlier than January 1, 2011 and conditioned upon FDA approval of Anchen’s Abbreviated New Drug Application. Anchen will pay Wyeth a royalty on sales of its generic product.