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news.Impax Laboratories has announced that all conditions of a settlement of the US patent infringement litigation pertaining to Impax's proposed generic capsule formulation of Wyeth's Effexor XR antidepressant have been approved by the US District Court of Delaware. The court entered a consent judgment resulting in termination of the litigation.
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Under the terms of the settlement, Wyeth has granted Impax a license that would permit Impax to launch its capsule formulation of Effexor XR on or after June 1, 2011, subject to earlier launch in limited circumstances, but in no event earlier than January 1, 2011. Impax will pay Wyeth a royalty on sales of this generic product.
The parties have also entered into a co-promotion agreement under which Impax will utilize its neurology-focused sales force to detail a product to be named by Wyeth in exchange for a fee for each detail delivered.