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Actavis announces settlement with AstraZeneca over generic drug

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Specialty pharmaceutical company Actavis Inc., of Parsippany, announced today it has reached a settlement agreement with AstraZeneca resolving outstanding patent litigation.

The litigation concerned Actavis’ generic version of Crestor tablets.

Under the terms of the agreement, Actavis can launch its generic version of Crestor 67 days ahead of to July 8, 2016 — the expiration of pediatric exclusivity, at a fee of 39 percent of net sales to AstraZeneca. Launch of Actavis’ product is contingent upon the company receiving final approval from the Food and Drug Administration.

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