Actavis settles OxyContin lawsuit with Purdue

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Actavis settles OxyContin lawsuit with Purdue

(Reuters) - Generic drugmaker Actavis Inc said it had settled a patent lawsuit with Purdue Pharma related to Actavis' generic version of the abuse-deterrent formulation of Purdue's painkiller OxyContin. Under the agreement, Actavis will be licensed to market a specified number of bottles of its generic OxyContin beginning January 1, 2014. Actavis expects the agreement to represent more than $100 million in combined gross profit in 2014 and 2015, but the other terms of the settlement were not disclosed. If Actavis is unable to get U.S. ...

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