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FOR IMMEDIATE RELEASE Contact: Tim Bannon Purdue Pharma L.P. Announces Resolution of OxyContin® Patent Lawsuit with Endo Pharmaceuticals Endo to acknowledge infringement of Purdue patents and stop selling infringing oxycodone products by the end of 2006 Stamford, CT – (August 28, 2006) – Purdue Pharma L.P. of Stamford, Connecticut and Endo Pharmaceuticals Inc. of Chadds Ford, Pennsylvania have agreed to end the patent infringement lawsuit between them now pending in the United States District Court for the Southern District of New York concerning certain Purdue Pharma patents on OxyContin® (oxycodone HCl controlled-release) Tablets ("OxyContin"). According to the agreement, Endo will stop selling infringing versions of OxyContin by the end of 2006. In exchange, Purdue Pharma will not pursue damages against Endo for Endo’s past infringement of its OxyContin patents. On February 1, 2006, the United States Court of Appeals for the Federal Circuit ruled that Endo’s extended-release oxycodone products infringe the Purdue Pharma patents. In its ruling, the Court also vacated a trial court finding that the Purdue Pharma patents were unenforceable and sent the issue back to the trial court for reconsideration. Under the terms of the settlement agreement, Endo will no longer dispute that the Purdue Pharma OxyContin patents are valid, enforceable and infringed by Endo's extended-release oxycodone product. The parties also have agreed to propose to the Court a consent judgment holding that Endo is infringing the Purdue patents and prohibiting Endo from infringing sales after December 31, 2006. "We are pleased that this matter has been resolved in a manner that respects our invention of an important medicine. Today’s agreement permits us to achieve the result we were seeking in the lawsuit – to stop Endo from selling its infringing products – by the end of the year, while also relieving us of the risks, distractions and costs of continued litigation," said Michael Friedman, President and CEO of Purdue Pharma, in announcing the end of the lawsuit. "We will continue to defend our invention of that medicine against all infringers. Our dedication to serving both healthcare professionals and patients with innovative prescription and non-prescription products has never waned during the long course of this litigation and we look forward to maintaining that commitment long into the future." By agreement, Endo and Purdue Pharma will make no public announcements about the resolution of the litigation beyond their written statements. Purdue Pharma L.P. and its associated U.S. companies are privately-held pharmaceutical companies known for pioneering research on persistent pain. Headquartered in Stamford, CT, Purdue is engaged in the research, development, production, and distribution of both prescription and over-the-counter medicines and hospital products. Additional information about Purdue can be found at www.purduepharma.com. The professional product labeling for OxyContin® Tablets contains the following boxed warning:
Full prescribing information for OxyContin is available at # # # |
