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news.US-based specialty pharmaceutical company Hi-Tech Pharmacal has settled the patent infringement suit brought by MedPointe Pharmaceuticals related to Hi-Tech's generic version of the company's cold medication Tussi-12 DS.
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Hi-Tech said that under the terms of the settlement and release agreement, the company will immediately cease distribution of its generic version of Tussi-12 DS and will also pay MedPointe $2.5 million.
The agreement also resolves various claims brought by Hi-Tech against MedPointe and JFC Technologies in a separate lawsuit.
Under the terms of the agreement, MedPointe will transfer its Vosol and Vosol HC branded products for the treatment of ear infections to Hi-Tech, as well as the related New Drug Applications.
According to Forbes, chief financial officer William Peters has predicted that Hi-Tech will discard the Vosol brand and market the products as generic treatments.