Wyeth settles Impax suit

Pharmaceutical company Wyeth has announced a settlement relating to its case against Impax concerning the latter company’s proposed generic capsule formulation of Wyeth’s Effexor XR antidepressant.

The settlement has been approved by the US district court for the district of Delaware and will see Wyeth granting Impax a licence permitting it to launch its capsule after June 1st 2011, with Impax paying Wyeth royalties.

In addition, Impax will utilise its neurology-focused sales team to promote a product to be named by Wyeth at a later date.

All other details of the settlement were kept private.

In related news, Wyeth Consumer Healthcare has signed an agreement to purchase the over-the-counter heat wrap ThermaCare from Proctor & Gamble.

In a statement, the company claims the transaction should be completed in the next few months, with Cavan Redmond, president of Wyeth Consumer Healthcare, saying he is “excited” about the brand’s potential and noting that it will fit in well with Wyeth’s pain management franchise.