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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (1676)	1/25/1999 8:59:00 AM
From: BMcV	Respond to of 10280

well, that was fast -- Prozac patent case settled: biz.yahoo.com Put that judge on the Impeachment trial! Settlement Reached in Prozac Patent Case; $4 Million Agreement Permanently Removes Two Claims From Patent Challenge INDIANAPOLIS, Jan. 25 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY - news) announced today that Barr Laboratories and Geneva Pharmaceuticals have agreed to abandon the claims that were scheduled to begin trial today in their patent challenge to Lilly's antidepressant Prozac(R) (fluoxetine hydrochloride). On January 12, the U.S. District Court for the Southern District of Indiana dismissed Barr's and Geneva's claims regarding double patenting and best mode. Today's agreement disposes of their two remaining claims, anticipation and inequitable conduct. In addition, Geneva will drop its antitrust claim against Lilly and Lilly has agreed to drop its other infringement claims against co-defendants Barr, Geneva and Apotex, Inc. The three companies will share a one-time $4 million payment from Lilly. As a result of the settlement, the U.S. District Court for the Southern District of Indiana enjoined Barr and Geneva from making, using, selling, offering for sale or importing fluoxetine hydrochloride, or otherwise infringing Lilly's patents. The court also prohibited the U.S. Food and Drug Administration from approving their Abbreviated New Drug Applications (ANDA) before Lilly's patents expire. In 1996, Lilly brought suit against Barr Laboratories after Barr filed an ANDA alleging the Lilly patents for Prozac were invalid. Likewise, Lilly filed suit against Geneva in 1997 after Geneva filed an ANDA similar to Barr's. These cases were consolidated into a single action by the U.S. District Court, Southern District of Indiana, in a trial, which had been scheduled to begin today in Indianapolis. ''We are very pleased with this agreement,'' said Rebecca Goss, senior vice president and general counsel of Eli Lilly and Company. ''For about the cost of a trial, Lilly is in an even better position than if we had gone to trial and won, because Barr and Geneva would have had four issues to take up on appeal instead of just the two claims that the court has already dismissed. ''Furthermore, given that this trial was scheduled to last no more than two weeks, the timing of any appeal is not affected in any meaningful way. We remain very confident that our patents are valid and enforceable and we expect to prevail at the next level just as we did in the trial court rulings handed down January 12.''