HAYWARD, Calif.--(BUSINESS WIRE)--IMPAX Laboratories, Inc. (OTC:IPXL) today announced that the Company has signed an agreement with Purdue Pharma L.P. and certain of its affiliates to settle patent infringement litigation pertaining to IMPAX’s generic versions of Purdue’s Oxycontin® (oxycodone HCI controlled-release) Tablets. The agreement grants a full release of IMPAX, its exclusive distributor, DAVA Pharmaceuticals, Inc. (DAVA), as well as its distributors and purchasers, and grants a license to IMPAX to sell the products through June 14, 2007, with rights to resume marketing in the near future of a limited amount of product for a limited period of time. The settlement agreement will be submitted to the Federal Trade Commission and the Antitrust Division of the Department of Justice.
