Mylan Inc announced that it and its subsidiary, Mylan Pharmaceuticals, have in place an agreement with GlaxoSmithKline Plc's (NYSE:GSK) to settle all litigation and also have in place a patent license agreement.
Mylan applied for, and was granted, an ANDA from the U.S. Food and Drug Administration at the end of June, 2007. At that time Mylan became eligible for a 180-day period of marketing exclusivity for generic Paxil CR.
Mylan now is in agreement to produce all three strengths of Paroxetine HC1 ER Tablets (12,5 mg, 25 mg. and 37.5 mg.) no later than October 1, 2008.
Paxil CR, developed by SkyePharma with GSK, is an improved formulation of the antidepressant Paxil. Sale in the first half of 2007 were US$154, most of which were in the U.S where SkyePharma receives a 4% royalty.
[Source: CNN Money]
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