Impax Labs Announces Settlement of Litigation with Janssen
Impax Laboratories, Inc. (NASDAQ: IPXL) today announced that it and Teva Pharmaceuticals USA, Inc. have reached agreement with Janssen Pharmaceuticals, Inc. and ALZA Corporation (together, “ALZA”) to settle pending U.S. litigation with regard to the production and sale of generic formulations of CONCERTA^® (methylphenidate hydrochloride extended release tablets, 18 mg, 27 mg, 36 mg, and 54 mg). Under the terms of the settlement, ALZA has agreed to grant Impax and Teva a license to sell generic versions of CONCERTA^® on July 14, 2013 or earlier under certain circumstances.
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