ORION CORPORATION: ORION AND WOCKHARDT SETTLE PATENT DISPUTE
ORION CORPORATION STOCK EXCHANGE RELEASE 29 APRIL 2009 AT 10.40 A.M.
Orion and Wockhardt settle patent dispute
Orion Corporation ("Orion") and Wockhardt USA, LLC and Wockhardt Limited (together "Wockhardt") today announce that they have executed a settlement agreement on lawsuits filed by Orion in the United States against Wockhardt regarding Wockhardt's submission of abbreviated new drug applications ("ANDAs") for generic versions of Orion's Comtan® and Stalevo® products. Comtan is used in the treatment of Parkinson's disease as an adjunct to levodopa/carbidopa therapy. Stalevo is a combination of carbidopa, levodopa and entacapone for the treatment of Parkinson's disease. Both products contain entacapone, a COMT enzyme inhibiting agent originated and patented by Orion.
The first lawsuit was filed by Orion in the U.S. in 2007 and two additional lawsuits were filed in 2008. The settlement agreement relates to all three suits. Under the terms of the settlement agreement, Wockhardt will be able to launch generic versions of Comtan and Stalevo on 30 September 2012, or possibly even earlier, subject to certain conditions. The parties have agreed that Orion will supply said generic product versions to Wockhardt. Except as described, the terms of the settlement are confidential. The settlement warrants no revision of the full-year outlook estimate provided in the Interim Report 1-3/2009 of the Orion Group, published on 27 April 2009.
Subject to the Court's approval, all three cases will be dismissed and the patents remain in place, including U.S. Patent No. 5,446,194; U.S. Patent No. 5,135,950; U.S. Patent No. 6,599,530; U.S. Patent No. 6,797,732; and U.S. Patent No. 6,500,867.
In compliance with the applicable U.S. laws, Orion will file all of the above agreements with the United States Federal Trade Commission and the United States Department of Justice.
Orion Corporation
Timo Lappalainen Olli Huotari
President and CEO SVP, Corporate Functions
Contact persons:
Olli Huotari, Senior Vice President, Corporate Functions, phone +358 10 426 3054, gsm +358 50 966 3054
Liisa Hurme, Senior Vice President, Proprietary Products, phone +358 10 426 2874, gsm +358 50 966 2874
About Orion
Orion is a European pharmaceuticals and diagnostics company dedicated to treating and preventing disease by discovering and developing innovative medicinal treatments and diagnostic tests for global markets. Orion is engaged in human and veterinary drugs, active pharmaceutical ingredients and diagnostic tests. In 2008, Orion's net sales were EUR 710.7 million. Operating profit was EUR 184 million, and the company invested EUR 99 million in pharmaceutical research and development. The number of employees is about 3,100. Orion corporate headquarters are in Espoo, Finland. Orion is listed on NASDAQ OMX Helsinki. For more information, please visit: http://www.orion.fi/english/.
Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo
Homepage: www.orion.fi