Impax Laboratories, Inc. (NASDAQ: IPXL) today announced that it has reached agreement with Astellas Pharma Inc. and Boehringer Ingelheim Pharmaceuticals, Inc. to settle pending U.S. litigation with regard to US Patent No. 4,703,063 for FLOMAX® (generic name: tamsulosin hydrochloride) capsules through the entry of a consent judgment confirming the validity and infringement of the patent. FLOMAX® is a treatment for the functional symptoms of benign prostatic hyperplasia.
As a result of this settlement, the case will be terminated by the consent judgment. The settlement of the litigation provides Impax with the opportunity to launch a generic tamsulosin hydrochloride product on March 2, 2010, prior to the expiration of pediatric exclusivity. Further terms of the settlement will not be disclosed.
According to Wolters Kluwer Health, U.S. sales of Flomax® 0.4mg capsules were approximately $1.9 billion for the 12 months ended August 31, 2009.
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