Shire and Teva Settle Litigation Concerning Supply of ADDERALL XR Authorized Generic
plc (LSE: SHP, NASDAQ: SHPGY), the global specialty biopharmaceutical
company, announces that it has settled the litigation with Teva
Pharmaceuticals USA, Inc. (“Teva”) over Shire’s supply to Teva of an
authorized generic version of ADDERALL XR. Shire has been supplying Teva with
authorized generic ADDERALL XR since
the product had been limited by restrictions that the US Drug Enforcement
Administration (“DEA”) places on amphetamine, which is the product’s active
ingredient. Teva filed suit claiming that Shire was in breach of its supply
contract. After the lawsuit was filed, DEA granted Shire additional quota for
2009, allowing Shire to supply Teva with additional product.
Teva has now dismissed its lawsuit, including its claims for monetary
damages, specific performance and other equitable relief. No consideration
was exchanged by the parties as part of the settlement.
Notes to editors
SHIRE PLC
Shire’s strategic goal is to become the leading specialty
biopharmaceutical company that focuses on meeting the needs of the specialist
physician. Shire focuses its business on attention deficit hyperactivity
disorder (ADHD), human genetic therapies (HGT) and gastrointestinal (GI)
diseases as well as opportunities in other therapeutic areas to the extent
they arise through acquisitions. Shire’s in-licensing, merger and acquisition
efforts are focused on products in specialist markets with strong
intellectual property protection and global rights. Shire believes that a
carefully selected and balanced portfolio of products with strategically
aligned and relatively small-scale sales forces will deliver strong results.
For further information on Shire, please visit the Company’s website:
http://www.shire.com.
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995
Statements included herein that are not historical facts are
forward-looking statements. Such forward-looking statements involve a number
of risks and uncertainties and are subject to change at any time. In the
event such risks or uncertainties materialize, the Company’s results could be
materially adversely affected. The risks and uncertainties include, but are
not limited to, risks associated with: the inherent uncertainty of research,
development, approval, reimbursement, manufacturing and commercialization of
the Company’s Specialty Pharmaceutical and Human Genetic Therapies products,
as well as the ability to secure and integrate new products for
commercialization and/or development; government regulation of the Company’s
products; the Company’s ability to manufacture its products in sufficient
quantities to meet demand; the impact of competitive therapies on the
Company’s products; the Company’s ability to register, maintain and enforce
patents and other intellectual property rights relating to its products; the
Company’s ability to obtain and maintain government and other third-party
reimbursement for its products; and other risks and uncertainties detailed
from time to time in the Company’s filings with the Securities and Exchange
Commission.
SOURCE Shire Plc