- Zydus Lifesciences will pay $120 million to Astellas Pharma to settle patent litigation
- Settlement involves Zydus Pharmaceuticals USA, a Zydus Lifesciences subsidiary
- Zydus will pay prepaid per unit licensing fees on generic Mirabegron sales until 2027
Zydus Lifesciences Ltd. on Thursday said it will pay $120 million to Astellas Pharma to settle a patent litigation over a medication to treat an active bladder.
Zydus Pharmaceuticals USA, Inc USA, a wholly owned subsidiary of the company, has entered into a settlement agreement with Astellas in relation to its drug Myrbetriq, the Ahmedabad-based drug maker said in a regulatory filing.
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Under the terms of the settlement agreement Zydus shall pay Astellas an aggregate amount of $120 million, it said.
Zydus shall additionally pay a prepaid per unit licensing fee on units of Zydus' generic Mirabegron sold in the US from the date of Settlement Agreement till September 2027, it added.
"This settlement agreement concludes all litigations between Astellas and the two companies relating to Myrbetriq and Mirabegron and enables Zydus to continue marketing its generic Mirabegron in the US," the drug maker stated.
Zydus shares were trading 2.20% up at Rs 917.80 apiece on BSE.
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(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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