Mylan settles drug dispute with Pfizer

Mylan says settlement means it can launch generic version of Pfizer drug in early 2011

• On 8:48 am EDT, Wednesday October 14, 2009

NEW YORK (AP) -- Mylan Inc. said Wednesday it can launch an authorized generic version of Pfizer Inc.'s antifungal drug Vfend in early 2011 under terms of a patent lawsuit settlement between the drugmakers.

Mylan said it will be able to market generic Vfend tablets in the U.S. starting in the first quarter of 2011, and said it may have 180 days of marketing exclusivity for its product. The agreement covers 50 milligram and 200 milligram tablets of the drug, which is also called voriconazole.

Pfizer said the agreement does not include liquid or intravenous versions of Vfend.

Sales of the tablets totaled $164 million in the 12 months ended June 30, Mylan said. The Food and Drug Administration has approved a generic version made by Mylan's Matrix subsidiary.

If the U.S. Department of Justice and Federal Trade Commission approve the deal, it will end patent litigation between Pittsburgh-based Mylan and New York-based Pfizer.

In premarket trading, Pfizer stock rose 14 cents to $16.92.