Schwarz Pharma announced that the legal disputes between its wholly owned affiliate KUDCo and Mylan Pharmaceuticals Inc and Esteve Quimica S.A. have been fully settled. The settlement involves a payment from KUDCo to Mylan and Esteve and resolves any claims with regard to both side's proton pump inhibitor formulation patents on a worldwide basis.
Schwarz Pharma's chairman Patrick Schwarz-Schuette commented, "After careful consideration we have decided to settle this dispute with Mylan Pharmaceuticals and Esteve Quimica. With this settlement we eliminate legal risk with its uncertainties and avoid long lasting multiple legal proceedings concerning KUDCo's generic omeprazole. It frees up substantial management time and resources, which allows us to focus entirely on the implementation of our strategic goals. Going forward we are on our way to bring additional US specialty products to the market and we are well on track with our pipeline development expecting new data for restless-legs-syndrome and epilepsy in the next quarter."
Schwarz Pharma develops innovative drugs with the focus on neurology and urology. There are currently seven projects in clinical development. KUDCo (Kremers Urban Development Company) is the wholly owned US generic drug business of Schwarz Pharma Inc., U.S.A.