Mylan Wins Lawsuit Against GSK; Jury Awards Mylan $106.7 Mln In Damages

(RTTNews) - Mylan Inc. (MYL) announced that, after a trial in the United States District Court for the District of New Jersey, a jury returned a verdict in favor of Mylan in its breach of contract lawsuit against GlaxoSmithKline (GSK, GSK.L) relating to Paroxetine Hydrochloride Extended-release or ER Tablets. The jury decided that GSK owes Mylan $106.7 million in damages.

Mylan's claims were based on 2007 agreements with GSK relating to Mylan's Abbreviated New Drug Application or ANDA for Paroxetine Hydrochloride ER Tablets. As per the agreements, Mylan obtained certain intellectual property rights from GSK. Mylan then launched its generic Paroxetine Hydrochloride ER Tablets in May 2008 and, to date, is the only company to have received FDA approval of an ANDA for this product.

Mylan said it is pleased with the jury verdict and intends to seek additional relief to further protect its rights.