U.S. Markets closed

Impax reaches $20 mln deal to end trial over generic drug's delay

BOSTON, March 29 (Reuters) - Impax Laboratories Inc has agreed to pay $20 million to consumers and insurers to resolve claims that the drugmaker entered an anticompetitive deal to delay launching a generic, cheaper version of acne medication Solodyn.

The accord, disclosed in papers filed in federal court in Boston, brought to an end a rare trial in a class action lawsuit involving an alleged "pay-for-delay" patent litigation settlement between a brand-name drugmaker and a generic company. (Reporting by Nate Raymond in Boston Editing by Chizu Nomiyama)