JACKSONVILLE, Fla. India’s Ranbaxy Labs will launch a generic version of a diabetes drug in two years, under a patent settlement announced Monday.
The generic drug maker said it reached a settlement with Takeda Pharmaceutical Co. concerning its version of the Type 2 diabetes treatment Actos (pioglitazone hydrochloride). Takeda had earlier filed a patent infringement suit against Ranbaxy when the latter sought regulatory approval from the Food and Drug Administration.
Under the royalty-free agreement, Ranbaxy plans to launch its generic version of the drug in the 15-mg, 30-mg and 45-mg strengths on August 17, 2012. Patents covering the drug expire in 2016.
Actos had sales of $3.4 billion in 2009, according to IMS Health.