Drug developers Forest Laboratories Inc. and Merz GmbH & Co. KGaA said Thursday they have settled a patent lawsuit with companies they sued over the drug Alzheimer's drug Namenda.
Forest, based in New York, and Merz, based in Frankfurt, Germany, sued several companies that develop generic drugs and that hoped to make versions of the drug, which Forest and Merz developed together and is intended to treat moderate to severe symptoms of dementia related to Alzheimer's.
The defendants at first included Barr Laboratories Inc., Cobalt Laboratories Inc., Lupin Ltd., Orchid Chemicals & Pharmaceuticals Ltd., Teva Pharmaceuticals USA Inc., Upsher-Smith Laboratories Inc. and Wockhardt Ltd.
Merz, which focuses on drugs used in neurology and psychiatry, and Forest later expanded the lawsuit to include Dr. Reddy's Laboratories Ltd., Genpharm Inc., Interpharm Inc., Mylan Pharmaceuticals Inc., Ranbaxy Laboratories Ltd. and Sun India Pharmaceutical Industries Ltd.
Under the settlement announced Thursday, Forest and Merz will provide licenses to Amneal, Watson, Dr. Reddy's, Lupin, Mylan, Orchid, Sun, Teva, Upsher-Smith and Wockhardt.
Authorized generic versions of the drug are to reach the market in five years, on Jan. 11, 2015.
Shares of Forest rose 60 cents, or 2.2 percent, to $28.47 in afternoon trading. The stock has traded between $24.17 and $33.10 over the last 52 weeks.