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news.Mylan Inc, a generic pharmaceutical company, and its subsidiary, Mylan Pharmaceuticals Inc, have entered into a settlement agreement with Novartis Pharmaceuticals, Novartis and Novartis International related to letrozole tablets, the generic version of Novartis's Femara.
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Under the agreement, Mylan is provided a patent license that will enable the company to market letrozole tablets, 2.5mg, prior to the expiration of US patent.
Additional terms related to the settlement remain confidential, and the agreement is subject to review by the US Department of Justice and the Federal Trade Commission. Letrozole tablets are used in the treatment of breast cancer.
Robert Coury, vice chairman and CEO of Mylan, said: “We are very pleased to have reached this agreement, which demonstrates our ability to once again bring to market high quality, affordable medications for the patients who need them the most.”