Matrix Laboratories Ltd, as a part payment towards the settlement of a potential patent infringement suit, has received a sum of Rs 75 crore out of an estimated consideration of Rs 95 crore.
The company has announced that it will be receiving an estimated lump sum consideration of Rs 95 crore towards the settlement of a potential patent infringement suit.
Matrix, in February 2004, announced that Danish pharma company Lundbeck, innovator of the anti-depressant blockbuster drug Citalopram, has withdrawn patent infringement cases against Ratiopharm and Destin Pharma in the European courts, which were among the major generic customers of Matrix in Europe for Citalopram active pharmaceutical ingredient (API).
In another case, European generic companies using Matrix's API won patent-related case against Lundbeck in Denmark on January 26, 2004.
In a previous case, Lundbeck withdrew patent infringement litigation against Lagap Pharmaceuticals, a generics arm of Novartis, in London court in October 2003. In this case, Lundbeck also withdrew its allegations of forgery and perjury made against Matrix and its directors and employees.