Novartis and Mylan enter settlement agreement

Novartis and Mylan have announced a settlement agreement, in relation to Letrozole Tablets – a generic version of Femara.

Under the deal, Mylan is provided a patent license that will enable the company to market the product, prior to the expiry of its US patent.

The tablets are a hormonal medication used in the treatment of breast cancer.

Vice-chairman and chief executive officer of Mylan Robert Coury said: “We are very pleased to have reached this agreement, which demonstrates our ability to once again bring to market high quality, affordable medications for the patients who need them the most.”

In other news, Novartis has said scientists have revealed the achievement of a suitable PK profile of a new oral formulation of parathyroid hormone (PTH).

Using Eligen technology from Emisphere Technologies, initial research studied 20 healthy postmenopausal female patients aged 40 to 70 years old.

Scientists found resulting peak concentrations in the range of those treated with the subcutaneous formulation Forteo (teriparatide).

Based in Basel, Switzerland, Novartis increased research and development investments by more than 20 per cent to $6.4 billion (4.3 billion pounds) over the course of 2007.

It currently employs 100,000 people and operates in 140 countries.