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news.Mylan has entered into a patent license and settlement agreement with GlaxoSmithKline relating to paroxetine hydrochloride extended-release tablets, the generic version of GlaxoSmithKline's antidepressant Paxil CR.
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Under the agreement and an associated supply and distribution agreement, Mylan is provided patent licenses and the right to market all three strengths of paroxetine hydrochloride extended-release tablets, 12.5mg, 25mg and 37.5mg, beginning no later than October 1, 2008.
Robert Coury, vice chairman and CEO of Mylan, said: “Consistent with our commitment to monetize on our first-to-file opportunities and continuing to meet our commitment to bring affordable pharmaceuticals to the consumers who need them, we are extremely pleased to have reached this agreement with GlaxoSmithKline. This is especially gratifying as we continue to add another very difficult to develop and/or manufacture product to our portfolio.”