Pharma major, Sun Pharmaceutical Industries has settled its legal tussle with MedImmune over the generic version of Ethyol.
The company, along with its subsidiaries (collectively, Sun Pharma), has executed a settlement agreement with MedImmune, stipulating the dismissal of the lawsuits filed in the US district court for the district of Maryland regarding the submission of an Abbreviated New Drug Application (ANDA) for a generic version of Ethyol.
As per the settlement agreement, MedImmune has granted a license for certain patents to Sun Pharma.
This will allow the company to continue marketing of the generic version of Ethyol in the US market, as indicated in its filing with the BSE.
The settlement has resolved the entire litigations between both parties.
Sun Pharmaceutical Industries has reported a 56.72% decline in its June quarter net profit which stood at Rs 121.51 crore against Rs 280.78 crore for the June 2008 quarter.