Glaxo, Watson Strike $35M Deal Over Wellbutrin

Law360, New York (February 12, 2007, 12:00 AM EST) -- Watson Pharmaceuticals Inc. and GlaxoSmithKline have struck a deal that will resolve a patent suit brought in 2005 over the extended release version of the blockbuster depression treatment Wellbutrin XL.

Andrx Corp. first lodged the infringement suit in the U.S. District Court for the Southern District of Florida in December 2005. Andrx was acquired by Watson in November 2006.

Under the settlement agreement, Andrx will receive a one-time payment of $35 million, and grant GlaxoSmithKline a royalty-bearing license for the billion-dollar drug. The other terms of...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.