- RedHill Biopharma Ltd RDHL has announced a settlement and license agreement with Aurobindo Pharma USA Inc resolving their patent litigation in the U.S.
- The litigation was related to Aurobindo's Abbreviated New Drug Application seeking approval by the FDA to market a generic version of Movantik (naloxegol).
- RedHill acquired from AstraZeneca plc AZN in April 2020 the global rights to Movantik, excluding Europe and Canada.
- Under the settlement agreement terms, Aurobindo may not sell a generic version of Movantik in the U.S. until April 1, 2031.
- Related: RedHill Unveils New Movantik Data For Opioid-Induced Constipation.
- Price Action: RDHL stock is up 0.21% at $4.76 during the market session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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