NEW YORK, Jul 22, 2010 (BUSINESS WIRE) -- Forest Laboratories, Inc. /quotes/comstock/13*!frx/quotes/nls/frx (FRX 28.41, +0.54, +1.94%) Forest Laboratories Holdings, Ltd., Merz Pharma GmbH & Co. KGaA, and Merz Pharmaceuticals GmbH announced today that they have entered into settlement agreements with all remaining defendants in patent infringement litigation related to Forest's NAMENDA(R) (memantine hydrochloride) immediate release tablets. Under the settlement agreements, the first generic versions of memantine would be able to enter the market on January 11, 2015. Specifically, under the terms of the settlement agreements reached, and subject to review of the settlement terms by the U.S. Federal Trade Commission, Forest and Merz will provide licenses to each of Amneal, Watson, Dr. Reddy's, Lupin, Mylan, Orchid, Sun, Teva, Upsher-Smith, and Wockhardt that will permit these companies to launch their generic versions of NAMENDA(R) as of the date that is the later of (a) three calendar months prior to the expiration of U.S. Patent No. 5,061,703, including any extensions and/or pediatric exclusivities or (b) the date each company receives final FDA approval of its ANDA, or earlier in certain circumstances.
Merz Pharmaceuticals researches, develops, produces and distributes innovative pharmaceutical products in the areas of neurology and psychiatry as well as in aesthetic dermatology and metabolism. In the area of Alzheimer's research, Merz Pharmaceuticals has achieved a leading position with the first active ingredient worldwide for the treatment of moderate to severe Alzheimer's disease. The Company is headquartered in Frankfurt am Main, Germany. To learn more about Merz, visit www.merz.com.
About Forest Laboratories
Forest Laboratories /quotes/comstock/13*!frx/quotes/nls/frx (FRX 28.41, +0.54, +1.94%) is a U.S.-based pharmaceutical company with a long track record of building partnerships and developing and marketing products that make a positive difference in people's lives. In addition to its well-established franchises in therapeutic areas of the central nervous and cardiovascular systems, Forest's current pipeline includes product candidates in all stages of development and across a wide range of therapeutic areas. The Company is headquartered in New York, NY. To learn more about Forest Laboratories, visit www.FRX.com.
Except for the historical information contained herein, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties, including the difficulty of predicting FDA approvals, the acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, the timely development and launch of new products, and the risk factors listed from time to time in Forest Laboratories' Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and any subsequent SEC filings.
SOURCE: Forest Laboratories, Inc.
Forest Laboratories, Inc.
Frank J. Murdolo, 1-212-224-6714
Vice President - Investor Relations
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