NEW YORK, NY--(Marketwire - July 13, 2009) - Everett Laboratories, Inc. ("Everett") announced today that it has entered into an agreement with Breckenridge Pharmaceutical, Inc. ("Breckenridge") settling two pending patent litigations that it brought against Breckenridge in the New Jersey federal court. Sheppard, Mullin, Richter & Hampton LLP represented Everett in both of these patent litigation matters.
The patent infringement lawsuits were filed by Everett following Breckenridge's introduction of products which infringed Everett's patents, U.S. Patent Nos. 6,814, 983 and 7,390,509 which cover Everett's product Vitafol®-OB, and U.S. Patent Nos. 6,660,293 and 6,863,904 which cover Everett's product Strovite® Advance.
Breckenridge has acknowledged that all of the patents asserted by Everett in the patent lawsuits are valid and enforceable, and would be infringed by the unlicensed sale of the covered products previously offered for sale by Breckenridge.
United States District Court for the District of New Jersey has dismissed the pending lawsuits and has entered the jointly-filed Consent Judgment and Permanent Injunction against Breckenridge, which reflects the principal settlement terms.
John Giordano, President and CEO of Everett Laboratories, Inc., stated, "I believe that the resolution of these disputes are sound and in the best interest of both companies from a business point of view. We believe in, and continue to invest in our patent portfolio, and will vigorously defend the Company's intellectual property."
About Everett Laboratories, Inc.
Everett Laboratories, Inc. has been providing essential pharmaceutical and nutraceutical products for four decades. Established by Everett Felper, a former Sandoz Pharmaceutical Executive, to provide products primarily in the state of New Jersey, Everett Laboratories has grown into a multi-state organization.
About Breckenridge Pharmaceutical, Inc.
Breckenridge Pharmaceutical is a privately held pharmaceutical marketing, research and development company founded in 1983 that markets a broad range of ValuBrand™ and Generic prescription products in many therapeutic categories.
About Sheppard, Mullin, Richter & Hampton LLP
Sheppard Mullin is a full service AmLaw 100 firm with more than 560
attorneys in 11 offices located throughout California and in New York,
Washington, D.C. and Shanghai. The firm's California offices are located
in Los Angeles/Century City, Los Angeles/Downtown, Orange County, San
Diego/Del Mar, San Diego/Downtown, San Francisco, Santa Barbara and Silicon
Valley. Founded in 1927 on the principle that the firm would succeed only
if its attorneys delivered prompt, high quality and cost-effective legal
services, Sheppard Mullin provides legal counsel to U.S. and international
clients. Companies turn to Sheppard Mullin to handle a full range of
corporate and technology matters, high stakes litigation and complex
financial transactions. In the U.S., the firm's clients include more than
half of the Fortune 100. For more information, please visit
www.sheppardmullin.com.
Contact:
John Giordano
(973) 324-0200
