Par Pharmaceutical, sanofi-aventis resolve patent litigation case

Par Pharmaceutical Companies, Inc. (NYSE: PRX) today announced that it (and its subsidiary Par Pharmaceutical and development partner MN Pharmaceuticals of Turkey) has entered into a settlement agreement with sanofi-aventis (sanofi) that resolves patent litigation related to its generic version of sanofi's and Debiopharm's Eloxatin^® (oxaliplatin injection) product, a drug used to treat colorectal cancer, in the U.S. District Court for the District of New Jersey.  

Under the terms of the settlement, Par would begin selling its generic version of Eloxatin^® in August 2012, or earlier under certain circumstances.  Eloxatin^® had combined U.S. sales of approximately $993 million for the twelve months ended December 31, 2009, according to IMS Health.

The settlement agreements are subject to review by the Federal Trade Commission, the U.S. Department of Justice, and the Attorney General for the State of Michigan.