Caraco has executed a settlement agreement with MedImmune, stipulating the dismissal of the lawsuits filed in the US District Court for the District of Maryland. The case was regarding the submission of an Abbreviated New Drug Application (ANDA) for a generic version of Ethyol.
Under the settlement agreement, MedImmune grants Caraco a license to certain patents, permitting Caraco to continue marketing a generic version of Ethyol in the US. The settlement resolves the entirety of the litigations between the parties.
The terms of the settlement are kept confidential.
Detroit-based Caraco Pharmaceutical Laboratories, develops, manufactures, markets and distributes generic and private-label pharmaceuticals to wholesalers, distributors, drugstore chains and managed care providers.
MedImmune, the biologics business for AstraZeneca, is headquartered in Gaithersburg, Maryland. The company is focused on infection, oncology, respiratory disease and inflammation, cardiovascular, gastrointestinal disease and neuroscience.