NEW YORK (AP) -- Mylan Inc. plans to start selling a generic version of Pfizer Inc.'s overactive bladder drug Detrol LA in early 2014, as the two drugmakers said Friday they have resolved lawsuits over the patents supporting the product.
Litigation between the two companies is being dismissed. Mylan said the settlement allows it to start selling its generic between Jan. 1, 2014, and March 1, 2014. U.S. sales of the drug totaled $599 million over the 12-month period that ended June 30, according to IMS Health. Detrol LA is a newer and longer-acting version of Pfizer's drug Detrol.
The settlement is subject to review by the antitrust regulators. The Food and Drug Administration has not yet approved any generic versions of Detrol LA, or tolterodine. Generic versions of Detrol are already on the market.
Shares of Mylan, which is headquartered in Pittsburgh, rose 10 cents to $24.16 in morning trading. Shares of Pfizer, of New York, lost 4 cents to $24.30.