Ranbaxy Laboratories has announced that the company and its wholly owned subsidiary Ranbaxy Pharmaceuticals have reached an agreement with Takeda Pharmaceutical Company and Takeda Pharmaceuticals North America, resolving outstanding patent litigation related to Ranbaxy's generic equivalent version of Actos (Pioglitazone Hydrochloride) in strength of 15mg, 30mg and 45mg tablets.
Under the terms of the agreement, Takeda granted Ranbaxy a non-exclusive royalty free license to its US patents covering Actos. Under the terms of the agreement, Ranbaxy has certainty in the launch of its generic equivalent formulation of Actos on 17 August 2012 or earlier under certain circumstances.
The company made this announcement during the trading hours today, 15 March 2010.