Mar 27 2014
Mylan Inc. (Nasdaq: MYL) today announced that, after a trial in the United States District Court for the District of New Jersey, a jury returned a verdict in favor of Mylan in its breach of contract lawsuit against GlaxoSmithKline (GSK) relating to Paroxetine Hydrochloride Extended-release (ER) Tablets. The jury decided that GSK owes Mylan $106.7 million in damages.
Mylan's claims were based on 2007 agreements with GSK relating to Mylan's Abbreviated New Drug Application (ANDA) for Paroxetine Hydrochloride ER Tablets. Pursuant to those agreements, Mylan obtained certain intellectual property rights from GSK. Mylan then launched its generic Paroxetine Hydrochloride ER Tablets in May 2008 and, to date, is the only company to have received FDA approval of an ANDA for this product.
Mylan is pleased with the jury verdict and intends to seek additional relief to further protect its rights.