Barr Pharmaceuticals announced that its subsidiary Duramed Pharmaceuticals, Inc. and Shire plc have signed a product acquisition agreement for Adderall (immediate-release mixed amphetamine salts) tablets and a product development agreement for six proprietary products, and that its subsidiary Barr Laboratories, Inc, has signed a settlement and license agreement relating to the resolution of two pending patent cases involving Shire's Adderall XR.

The agreements will be submitted to the US Federal Trade Commission, as required by law and become effective upon the courts' signing of consent judgments in the two pending cases.

"We believe the agreements announced today provide an equitable resolution to our Adderall XR patent litigation, that creates a significant benefit for consumers, as well as the company's shareholders," said Bruce L. Downey, Barr's chairman and CEO. "First and foremost, the agreements enable a pro-competitive and pro-consumer introduction of a generic version of Adderall XR more than nine years earlier than might otherwise have been possible.

It will also result in an investment in research and development for six products initially, which will enhance our ability to expand our proprietary development activities. Finally, it provides us immediate access to the immediate-release Adderall brand product, a generic version of which we have manufactured and marketed since 2002."