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PARSIPPANY, N.J. — Actavis has launched a generic drug for post-shingles pain under an agreement with the branded drug's manufacturers, the company said Monday.
Actavis announced the launch of generic lidocaine topical patches in the 5% strength under a settlement agreement with Endo Pharmaceuticals and Teikoku Seiyaku Co. The drug is a generic version of Lidoderm, and Actavis said it was likely the first company to win approval for the generic from the Food and Drug Administration, thus entitling it to 180 days in which to compete exclusively against the branded version.
"Thanks to this settlement agreement, consumers across the country are today benefiting from generic competition on Lidoderm more than two years before the product's patents expire," Actavis president and CEO Paul Bisaro said. "We are pleased to be able to provide patients with this more affordable treatment option while offering yet another reminder of how patient settlements have saved and continue to save consumers billions of dollars and ensure the more timely introduction of generic competition."
Lidoderm had sales of about $1.4 billion during the 12-month period that ended in May, according to IMS Health.
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