HAYWARD, Calif.--(BUSINESS WIRE)--IMPAX Laboratories, Inc. (OTC: IPXL) today announced that patent infringement litigation pertaining to its generic version of Purdue Pharma’s OxyContin® (oxycodone HCl extended-release) Tablets has been dismissed by the United States District Court for the Southern District of New York pursuant to a settlement between IMPAX and Purdue Pharma L.P. and certain of its affiliates. The full terms of the settlement will become effective today and are consistent with the terms previously disclosed by the parties on March 30, 2007. The settlement, which provides for a full release of IMPAX, its distributor DAVA Pharmaceuticals, as well as its purchasers, includes a license for IMPAX and DAVA to continue selling the IMPAX generic oxycodone product until June 14, 2007. The agreement further provides for a license to sell an additional limited quantity of product for a limited time in the future. Additional terms of the settlement agreement were not disclosed.
