Endo and Penwest Pharmaceuticals settled patent infringement suits Tuesday with Sandoz Inc. and Impax laboratories Inc.
The dispute that began in January 2008 focused on attempts by Sandoz and Impax to make and sell generic versions of Opana Extended Release, a painkiller developed by Endo and Penwest. The U.S. District Court for the District of New Jersey granted two distinct licenses to sell, one to Sandoz and one to Impax. Endo and Penwest agreed to allow Sandoz, a subsidiary of Novartis, to sell a generic version of Opana in 2012. Impax will receive a comparable license in 2013, the first 180 days of which they may sell the drug exclusively.
Remaining details on the licensing agreement were not disclosed. The drug has serious implications for profit. As a result of Opana's release, Penwest shares have already risen approximately 20 percent.