Orion Corporation (“Orion”) together with Hospira, Inc. (“Hospira”) and Sandoz Inc. and Sandoz Canada Inc. (hereinafter collectively “Sandoz”) have executed a settlement agreement in the lawsuit filed by Orion and Hospira in the United States against Sandoz regarding Sandoz’s submission of abbreviated new drug application (“ANDA”) for generic version of Orion’s Precedex® product. The legal proceedings, which are currently in the appeal phase, concern Orion’s US Patent No. 4,910,214 and Orion’s and Hospira’s commonly owned US Patent No. 6,716,867.
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