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NVS Novartis AG

97.27
-0.07 (-0.07%)
04 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Novartis AG NYSE:NVS NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  -0.07 -0.07% 97.27 97.91 97.07 97.75 1,045,674 01:00:00

Amphastar to Get $59.9 Million in Settlement With Momenta, Sandoz

19/06/2019 12:52pm

Dow Jones News


Novartis (NYSE:NVS)
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By Colin Kellaher

 

Amphastar Pharmaceuticals Inc. (AMPH) Wednesday said it will receive nearly $60 million from Momenta Pharmaceuticals Inc. (MNTA) and a unit of Novartis AG (NVS) after the companies agreed to settle their long-running litigation related to generic versions of the blood-thinner Lovenox.

Amphastar, a Rancho Cucamonga, Calif., specialty pharmaceutical company, said Novartis' Sandoz and Momenta will pay $59.9 million by July 2 as part of the settlement, under which the companies will dismiss all pending litigation.

Momenta and its partner Sandoz filed a patent-infringement suit against Amphastar in 2011, seeking more than $900 million in damages, after the U.S. Food and Drug Administration approved Amphastar's generic version of Sanofi's (SNY) Lovenox. Amphastar later countered with an antitrust suit against Momenta and Sandoz.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

June 19, 2019 07:37 ET (11:37 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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