Lupin settles suit with Forest Labs

Lupin Ltd has settled an ongoing litigation with Forest Laboratories relating to Memantine tablets. Memantine tablets are Lupin’s generic version of Forest Lab's Namenda, used in the treatment of Alzheimer’s disease.

Lupin Ltd has settled an ongoing litigation with Forest Laboratories relating to Memantine tablets. Memantine tablets are Lupin’s generic version of Forest Lab's Namenda, used in the treatment of Alzheimer’s disease.

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As per the terms of the settlement, Lupin will be licensed under the relevant patents and would be free to commercially launch its generic product in January 2015 — or earlier in certain circumstances.

Lupin had contested that the patent was invalid or had not been infringed, which had resulted in the litigation with Forest.

Forest's Namenda tablets had a US sales of $ 949 million (Rs 4.4 lakh crore) for the financial year 2009 and accounted for twenty-six per cent of the company's net revenue last year.

Nilesh Gupta, Group President and Executive Director to the Board, Lupin, said, “The settlement is in line with us prudently managing our litigation pipeline and creating value for the company."

Lupin's share dipped 3.5 per cent at Rs 1,446.7 on Tuesday.