Another Co. Surrenders In Seroquel XR Patent Fight

Law360, New York (August 1, 2012, 7:11 PM EDT) -- Intellipharmaceutics Corp. has settled patent infringement claims brought by AstraZeneca Pharmaceuticals LP over plans to market a generic version of anti-psychotic drug Seroquel XR, agreeing Monday to delay the launch of its version and admit the legitimacy of AstraZeneca's Seroquel patents.

Generic pharmaceutical maker IPC will shelve plans to market its version of Seroquel XR, an extended-release version of AstraZeneca's blockbuster drug Seroquel, which is used to treat schizophrenia, bipolar disorder and depression, until November 2016, according to documents filed Monday in New York federal court....
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