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Settlement and license agreement ends paclitaxel litigation.
2004 AUG 5 - (NewsRx.com & NewsRx.net) -- Mylan Laboratories Inc. (NYSE:MYL) announced that it has entered into a settlement and license agreement ending its paclitaxel litigation.
The agreement was forged with Mayne Pharma (USA) Inc., formerly known as Faulding Pharmaceutical Co., and Tapestry Pharmaceuticals Inc., formerly known as Napro Biotherapeutics Inc.
In exchange for a one-time payment of $9 million, Mylan will receive a paid up irrevocable license from Mayne under all patents asserted in the litigation pending against Mylan in the U.S. District Court for the Western District of Pennsylvania.
In addition, the parties will promptly file stipulations of dismissal with prejudice with the U.S. District Court for the Western ...
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...July 31, 2003 judgment rendered by Judge Rakoff of the United States District Court for the Southern District of New York ("the District Court"), the District Court found that the Uzans and their confederates had perpetrated a "massive...