U.S. Markets closed

Watson and J&J settle Ortho Tri-Cyclen dispute

NEW YORK (AP) -- Watson Pharmaceuticals Inc. said Wednesday it settled a patent lawsuit brought by a unit of Johnson & Johnson over a generic version of the birth control drug Ortho Tri-Cyclen Lo.

Watson said it will start selling an authorized generic version of Ortho Tri-Cyclen Lo on Dec. 31, 2015. Johnson & Johnson's Janssen Pharmaceuticals business will make the generic and supply it to Watson. Janssen sued Watson in October 2008, saying that Watson's proposed generic violated the patents supporting the drug.

Shares of Parsippany, N.J.-based Watson fell 4 cents to $57.66 in morning trading. Shares of Johnson & Johnson, based in New Brunswick, N.J., slipped 9 cents to $65.17.