Ironwood and Allergan Announce Settlement Resolving LINZESS® (linaclotide) Patent Litigation
Ironwood Pharmaceuticals, Inc. - Class A (IRWD)
Last ironwood pharmaceuticals, inc. - class a earnings: 2/13 07:00 am
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Source: Business Wire
BOSTON--(BUSINESS WIRE)--Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) and Allergan plc (NYSE: AGN) announced today that the companies have reached an agreement with Sandoz Inc. (Sandoz) resolving patent litigation brought in response to Sandoz’s abbreviated new drug application (ANDA) seeking approval to market generic versions of LINZESS (linaclotide) prior to the expiration of the companies’ applicable patents. The settlement with Sandoz is the fourth patent infringement settlement the companies have reached with respect to LINZESS.Pursuant to the terms of the settlement, Ironwood and Allergan will grant Sandoz a license to market its 145 mcg and 290 mcg generic version of LINZESS in the United States beginning February 5, 2030 (subject to U.S. FDA approval), unless certain limited circumstances, customary for settlement agreements of this nature, occur. As a result of the settlement, the ongoing Hatch-Waxman litigation between the companies and Sandoz regarding LINZESS patents
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