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RedHill Settles Movantik Patent Litigation With Aurobindo

Benzinga Real-time News · Sep 23, 2021 11:11

AZN +0.39% RDHL +0.13%

RedHill Biopharma Ltd (NASDAQ:RDHL) has announced a settlement and license agreement with Aurobindo Pharma USA Inc resolving their patent litigation in the U.S.
The litigation was related to Aurobindo's Abbreviated New Drug Application seeking approval by the FDA to market a generic version of Movantik (naloxegol).
RedHill acquired from AstraZeneca plc (NASDAQ:AZN) in April 2020 the global rights to Movantik, excluding Europe and Canada.
Under the settlement agreement terms, Aurobindo may not sell a generic version of Movantik in the U.S. until April 1, 2031.
Related: RedHill Unveils New Movantik Data For Opioid-Induced Constipation.
Price Action: RDHL stock is up 0.21% at $4.76 during the market session on the last check Thursday.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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