Third Circuit Rules in Mylan's Favor Regarding Paroxetine Hydrochloride Extended-Release Tablets, Sending Mylan's Breach of Contract Claim Against GSK to Trial
Mylan Inc. (NASDAQ: MYL) today announced that the Third Circuit Court of Appeals has reversed a summary judgment ruling dismissing Mylan's claim for breach of contract against GlaxoSmithKline relating to Paroxetine Hydrochloride Extended-release (ER) Tablets. The court ordered that Mylan's contract claim proceed to trial in U.S. District Court for the District of New Jersey. Mylan had filed suit against GSK (NYSE: GSK) claiming that GSK's agreement to supply Apotex with Paroxetine Hydrochloride ER violated Mylan's settlement and license agreement with GSK. Mylan is seeking money damages and an order permanently enjoining GSK from supplying Apotex with Paroxetine Hydrochloride ER. The company is pleased with the court's decision and the case will proceed to trial.
This press release includes statements that constitute "forward-looking statements," including with regard to litigation and sales of the product. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: strategies by competitors or other third parties to delay or prevent product introductions; risks inherent in legal and regulatory processes; and the other risks detailed in the company's periodic filings with the Securities and Exchange Commission. The company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Mylan is a global pharmaceutical company committed to setting new standards in health care. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what's right, not what's easy; and impact the future through passionate global leadership. We offer a growing portfolio of approximately 1,100 generic pharmaceuticals and several brand medications. In addition, we offer a wide range of antiretroviral therapies, upon which approximately 40% of HIV/AIDS patients in developing countries depend. We also operate one of the largest active pharmaceutical ingredient manufacturers and currently market products in approximately 140 countries and territories. Our workforce of more than 20,000 people is dedicated to improving the customer experience and increasing pharmaceutical access to consumers around the world. But don't take our word for it. See for yourself. See inside. mylan.com
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