To settle the patent dispute, Salix, which is a Morrisville, N.C.-based developer of products to treat gastroenterology, said it granted Somerset, N.J.-headquartered Novel Laboratories a fully paid-up, nonexclusive license to sell the generic version of OsmoPrep starting Nov. 16, 2019. Also, Salix will buy the product, to be manufactured by Novel Labs, from at least Oct. 1, 2011.
Under the confidential settlement, Salix will make two unspecified payments to Novel Labs to cover legal expenses and costs of establishing manufacturing facilities.
Last month, Salix reached a similar agreement with Novel Labs over another drug, MoviPrep.
The OsmoPrep settlement agreement includes CDC III LLC, which owns the OsmoPrep patent; the general partnership of Craig Aronchick, William H. Lipshutz and Scott H. Wright, which was the initial licensor of the patent to Salix; and Iceland-based generic drug maker Actavis Inc.
Salix has been led by CEO Carolyn Logan since 2002, taking over from co-founder Randy Hamilton. A 30-year veteran of specialty pharmaceutical sales, Logan had been vice president of the Oclassen Dermatologics division of Watson Pharmaceuticals Inc. She also had worked at Galderma Laboratories, Ulmer Pharmacal and Bristol-Myers Squibb subsidiary Westwood-Squibb Pharmaceuticals Inc.
Novel Labs is led by President and CEO Veerappan Subramanian, a 30-year pharmaceutical industry veteran. He had founded Kali Laboratories Inc., which he sold to Par Pharmaceutical Inc. in 2004. Subramanian's work experience includes stints at IVAX/Zenith Laboratories, Purepac Pharmaceuticals, Johnson & Johnson and Richard Vicks.
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