Lupin has entered into a settlement agreement with Warner Chilcott plc., and its subsidiary, Warner Chilcott Company, LLC to resolve pending patent litigations involving Warner Chilcott's oral contraceptive products, Loestrin 24 Fe and Femcon Fe. The final settlement remains subject to certain conditions specified in the settlement agreement, including the Court's ordering the stipulations of dismissal.
As per the agreement, Lupin has agreed that, except in the event of an at-risk launch of generic Loestrin 24 Fe product by third-party, neither Lupin nor its affiliates will market or sell a generic Loestrin 24 Fe product prior to July 22, 2014. In the event of such an at-risk launch by Lupin, Warner Chilcott has reserved its right to bring an infringement suit against Lupin and pursue all legally available remedies.
In addition, Lupin has been granted a non-exclusive license by Warner Chilcott covering Femcon Fe, which will permit Lupin to commence marketing either an authorized generic product, which would be supplied by Warner Chilcott, or generic equivalent of Fecon Fe in the US beginning on the earlier of 180 days after the date that Teva Pharmaceutical Indusuries enters the market with a generic equivalent to Femcon FE or by January 1, 2013.
Lupin has also been granted rights to purchase and sell in the US an authorized generic version of the Asacol 400 mg product, which would be supplied by Warner Chilcott, only if a generic version of the Asacol 400 mg product is launched by a third party in the US.