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Cipla has reached a settlement with Celgene, and its subsidiary Bristol Myers Squibb relating to patents for Revlimid (lenalidomide). As part of the settlement, the parties will file consent judgments with the U.S.District Court for the District of New Jersey that enjoin Cipla from marketing generic lenalidomide before the expiration of the patents-in-suit, except as provided for in the settlement.
Celgene has agreed to provide Cipla with a license to Celgene’s patents required to manufacture and sell certain volume-limited amounts of generic lenalidomide in the United States beginning on a confidential date that is some time after March 2022. For each consecutive 12 month period (or part thereof) following the volume-limited entry date until Jan. 31, 2026, the volume of generic lenalidomide sold by Cipla cannot exceed certain agreed upon percentages. The specific volume-limited license date and percentages agreed upon with Cipla are confidential.
Cipla rose 3.70% to Rs 783.85 after the drug major announced the settlement of its litigation with Celgene Corporation relating to patents for Revlimid (lenalidomide).In the US, Revlimid (lenalidomide) in combination with dexamethasone is indicated for the treatment of patients with multiple myeloma.
As part of the settlement, the parties will file consent judgments with the United States District Court for the District of New Jersey that enjoin Cipla from marketing generic lenalidomide before the expiration of the patents-in-suit, except as provided for in the settlement.
Celgene has agreed to provide Cipla with a license to Celgene s patents required to manufacture and sell certain volume-limited amounts of generic lenalidomide in the United States beginning on a confidential date that is some time after the March 2022.
Cipla share rises 5% after settlement with Celgene Corp
Cipla share price opened with a gain of 2.13% today at Rs 772 and later touched an intraday high of Rs 792.8.
BusinessToday.In | December 14, 2020 | Updated 17:48 IST
Cipla share price has risen 1.48% in the last week and 5% in one month
Cipla share price rose 5% on Monday s session after the company reached the settlement of its litigation with Celgene Corporation.
Cipla share price opened with a gain of 2.13% today at Rs 772 and later touched an intraday high of Rs 792.8, rising 4.88% against the last close of Rs 755.90. Cipla share is trading higher than 5, 20, 50, 100 and 200-day moving averages.
Shares of Cipla rallied 5 per cent to Rs 793 on the BSE on Monday after the pharma company announced the settlement of Revlimid (Lenalidomide) patent litigation with Celgene [Bristol Myers Squibb (BMS)] in the United States. Under the terms of the settlement, Celgene will provide Cipla with a license to sell generic volume-limited amounts of gRevlimid capsules in the US sometime after March 2022 subject to regulatory approval. This limited volume constraint will be applicable till January 2026. The oncology drug, indicated for treatment of multiple myeloma, had annual US sales of $9 billion in CY19 as per a BMS report. Arunesh Verma, CEO, Cipla North America said, “This is an important step forward for us and is in line with our pursuit of improving access to high quality life-saving treatments.”
Cipla Announces Settlement of REVLIMID® (lenalidomide) Capsules Patent Litigation apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.