- Intercept Pharmaceuticals Inc (NASDAQ:ICPT) and its subsidiary Intercept Pharma Europe Limited settled patent litigation with Dr. Reddy’s Laboratories Ltd (NYSE:RDY).
- The litigation concerns the submission by Dr. Reddy’s of an Abbreviated New Drug Application seeking approval to market a generic version of Ocaliva (obeticholic acid) 5 mg and 10 mg tablets before the expiration of the Company’s U.S. patents.
- Related: Intercept Shares Jump After Reissuing Annual Guidance.
- Under the terms of the agreement, Intercept granted Dr. Reddy’s a non-exclusive, non-sublicensable, non-transferable, royalty-free license to commercialize its generic version of Ocaliva in the U.S. commencing on October 26, 2035, or earlier under certain circumstances.
- Similar patent litigation previously disclosed by Intercept against five other generic filers seeking approval to market generic Ocaliva remains pending.
- Price Action: ICPT shares traded 0.94% lower at $17.90 on the last check Wednesday.
RIV Capital Reports YoY Revenue Growth In Q2, Plans To Establish Dominant Role In New York Wholesale Market
Cannabis-focused acquisition and investment firm RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) reported on Monday its second-quarter financial results for the three months ended on June 30, 2023.
