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Somaxon Pharmaceuticals, Inc. Message Board

  • frankposting frankposting Feb 5, 2013 4:47 PM Flag

    SOMX and Actavis Settled with the Silenor Case

    Thanks to Ileasem (detailed in the thread "Patent Case Update"), it is 100% cleared that SOMX and Actavis (previously, Watson) settled in the court on Feb 1st. No details about the settlement were revealed yet (my guess is something similar to previous settlements -- i.e., generics will get licensed in 2020). However, the little move in PPS indicates that MMs are still trying to find out the details and its impact.

    At least, the waiting Chapter has been closed. The details will be disclosed before the special shareholders meeting (March 6th), anyway. Huge surge in trading volume and gap move in PPS (up or down) will come soon.

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    • Another interesting move by SOMX: Earning CC set up to be on March 5th, just the eve before the March 6th Special Shareholders Meeting. The company has to disclose about any new buyout offers in the CC!!!! My guess: the next bid will be $6; but a bid war could follow. I hope the new suitor is strong in the Primary Care Market in consideration of the seven years exclusivity and the OTC opportunity. Sad to PTX -- they don't have the power to bid much higher, so they just be a straw-man.

      • 1 Reply to frankposting
      • I do not believe that it is far fetched to imagine that SOMX will not be worth significantly more with all
        patent litigation matters settled and behind the company with exclusivity for the next 7 years to 2020..... It would be nice to see acquisition price amended and move northward or like you said frank a bidding war to start..... interesting to see time period present to the March 5th/6th special meeting date....

        Also with class holder lawsuit settled.....I wonder what management told the class plaintiffs to have them come to a settlement and drop their claims????

    • great !!!

    • 4:30PM Somaxon Pharma announces settlement of Silenor patent litigation with Actavis (ACT) (SOMX) 3.06 +0.04 : Co has entered into a settlement agreement with Actavis Elizabeth and Actavis (ACT) to resolve pending patent litigation involving Silenor 3 mg and 6 mg tablets. The settlement agreement grants Actavis the right to begin selling a generic version of Silenor on January 1, 2020, or earlier under certain circumstances. The settlement agreement will become effective upon the entry by the U.S. District Court for the District of Delaware of an order dismissing the litigation with respect to Actavis.

      • 1 Reply to lawrencemeany
      • SAN DIEGO, Feb. 5, 2013 (GLOBE NEWSWIRE) -- Somaxon Pharmaceuticals, Inc. (SOMX), a specialty pharmaceutical company, today announced that it has entered into a settlement agreement with Actavis Elizabeth LLC and Actavis Inc. to resolve pending patent litigation involving Silenor(R) 3 mg and 6 mg tablets.
        The settlement agreement grants Actavis the right to begin selling a generic version of Silenor on January 1, 2020, or earlier under certain circumstances. The settlement agreement will become effective upon the entry by the U.S. District Court for the District of Delaware of an order dismissing the litigation with respect to Actavis.
        "We are pleased to enter into this settlement agreement, which resolves the last of our four patent litigation lawsuits relating to Silenor," said Richard W. Pascoe, Somaxon's President and Chief Executive Officer. "With exclusivity for Silenor for the next seven years, we believe that commercial resources can confidently be devoted to Silenor going forward to grow sales of the product."
        About Somaxon Pharmaceuticals, Inc.