GENERIC FIRMS AGREE TO OXYCONTIN SETTLEMENT
Teva Pharmaceuticals andEndo Pharmaceutical HoldingsInc will halt sales of genericOxyContin (oxycodone) by theend of this year under a settlementagreement resolvingpatent disputes with PurduePharma. Under the terms ofthe agreement, the genericcompanies will not be heldliable for any past or futureinfringement of Purdue'spatents for the painkiller.
The settlements mark thelatest in a series of legal twiststhat began with a June 2005ruling that several OxyContinpatents were unenforceablebecause of misrepresentationsby the patentee. Thatdecision opened the door forthe marketing of generic versionsof the drug, but thatopportunity evaporated whenthe courts reconsidered thecase and sent the case back totrial for further review.