Wyeth and Impax reach Effexor accord

Health care major Wyeth and fellow USA-based Impax Laboratories say that all conditions of a settlement of the US patent infringement litigation pertaining to the latter firm's proposed generic capsule formulation of Wyeth's Effexor XR (venlafaxine) antidepressant have been approved by the US District Court for the District of Delaware. The Court entered a consent judgment resulting in termination of the litigation.

Under the terms of the agreement, Wyeth has granted Impax a license that would permit the latter to introduce its capsule formulation of Effexor XR on or after June 1, 2011, subject to earlier launch in limited circumstances, but in no event earlier than January 1 that year. Impax will pay Wyeth a royalty on sales of this generic product. Other terms of this settlemnt are confidential and were not disclosed.