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Biotech / Medical : Mylan Labs

MYL 15.86

0.0%

Nov 19 4:00 PM EST

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To: Brett Koplin who started this subject	4/19/2004 10:19:07 AM
From: Neil H	Read Replies (1) of 384

Mylan Confirms Mirtazapine Settlement Monday April 19, 9:12 am ET PITTSBURGH--(BUSINESS WIRE)--April 19, 2004--Today, Mylan Laboratories Inc. (NYSE:MYL - News) confirmed that it settled its claims against Akzo Nobel NV (Akzo) and Organon USA Inc. (Organon) relating to Organon's anticompetitive actions in delaying the availability of a generic version of Remeron® (mirtazapine). In 2001, Organon sued Mylan alleging infringement of a patent that Mylan contended never should have been listed in the Food and Drug Administration's Orange Book. Mylan won the infringement case on summary judgment in December 2002 and counterclaimed against Organon and Akzo. The counterclaims alleged that Organon and Akzo violated federal and state antitrust laws by improperly delaying the availability of generic mirtazapine in the United States. Teva and Alphapharm also filed similar claims against Organon and Akzo, and private class action suits and government investigations have also been launched. In March 2004, Mylan agreed to settle its claims against Akzo and Organon in exchange for $15 million. The payment, which has been paid and received by Mylan, was in part for payment of legal fees. Mylan will recognize the settlement proceeds in its fourth quarter fiscal 2004 results.

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