Mumbai, Nov. 1 (IANS) Piramal Critical Care Inc. and Baxter Healthcare Corporation have reached a settlement in a patent suit, enabling the former to launch its generic Desflurane in US markets from Jan 1, 2014.
Consequent to the settlement, a patent suit between the two pharma majors has been dismissed by the District Court of Delaware in the US, an official said here Tuesday.
According to the settlement, Piramal has obtained a licence for the Baxter patent, enabling the former to launch its generic Desflurane in the US from Jan 2014 subject to US regulatory approval.
Piramal has also agreed not to make, use, sell or offer for sale in the US, or import into the US, the product before Jan 2014.
However, Piramal has taken a licence under the patent under which both parties have agreed that it (Piramal) may manufacture its generic Desflurane in the US from April 24, 2012, which would be only for sale outside the US markets – mainly in the European Union region – where it has obtained or would get regulatory registrations.
Led by Ajay Piramal, the Piramal Group turnover was in excess of $900 million in the current fiscal.
One of the largest custom manufacturing companies in the world, Piramal Healthcare notched $650 million turnover in the current fiscal and has facilities in North America, Europe and Asia.
Recently, Piramal Healthcare made waves when it sold its domestic formulation business to Abbott for $3.8 billion.
