Drug company Lupin Ltd said it settled its patent dispute regarding two oral contraceptives Loestrin 24 Fe and Femcon Fe, with Ireland-based Warner Chilcott.
According to the settlement accord, Lupin has agreed not to sell a generic version of Loestrin 24 Fe before the patent expiry on July 2014.
In addition, Lupin has been granted a non-exclusive license to market generics of Femcon Fe in the US, which would be supplied by Warner Chilcott.
The selling of the drug in the US will, however, be only after the expiry of 180 days of marketing exclusivity rights that Israel's Teva Pharmaceutical Industries holds or 1 January 2013, whichever earlier.
In 2009, Lupin had filed for approval from the US Food and Drug Administration for the generic versions of the oral contraceptives.
Lupin also said it has also been granted rights to sell in the US a generic version of Asacol 400 mg tablets, used to treat ulcerative colitis, which will be supplied by Warner Chilcott only if a generic version of the same is launched by a third party in the American market.
The final agreement remains subject to certain conditions specified in the settlement agreement including court's ordering the stipulations of dismissal, it added.
On Friday, Lupin shares declined 1.2% to Rs425 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.8% to 20,125 points.