Generic drug developer Par Pharmaceutical Cos. said Tuesday it settled a patent dispute with Reliant Pharmaceuticals Inc. over the abnormal heart rhythm treatment Rythmol SR.Par had challenged Reliant's patent. Under the settlement, Par can start selling a generic version of the drug on Jan. 1, 2011, or earlier, depending on the circumstances. Financial details were not disclosed.Reliant currently operates as a unit of British drug developer GlaxoSmithKline ( GSK - news - people ) PLC. Glaxo bought Reliant for $1.65 billion in 2007.Rythmol SR had sales of about $119 million for the 12 months ended September 2008, Par said, citing IMS Health ( RX - news - people ) data.Shares of Par Pharmaceutical rose 49 cents, or 4.5 percent, to $11.47 in afternoon trading. The stock has traded between $7.80 and $19.10 over the last 52 weeks.
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