Amphastar enters into $59m settlement with Sandoz and Momenta
US pharmaceutical company Amphastar Pharmaceuticals is to receive $59.9 million in a settlement agreement with two of its competitors, Sandoz and Momenta Pharmaceuticals.
In an announcement published yesterday, June 19, Amphastar said the settlement would end all pending litigation between the parties, and that it would receive the payment no later than July 2.
The litigation between the parties related to Amphastar’s enoxaparin sodium injection, a blood thinner which is used to prevent blood clots.
In 2011, Momenta filed a complaint alleging that Amphastar’s injection infringed one of its US patents (US number 7,575,886) which covers methods of manufacturing the sodium injection.
Under the terms of the settlement, the parties jointly requested that the US District Court for the District of Massachusetts vacate a 2017 judgment which found that although Amphaster had infringed Momenta’s patent, the patent was invalid and unenforceable.
Craig Wheeler, president and CEO of Momenta, said the company was pleased to have reached a resolution with Amphaster.
Wheeler said: “This agreement eliminates the burden of ongoing legal costs and allows us to focus on the operational execution of our business, as we advance our novel portfolio of immune-mediated therapeutics.”
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