Omeros, Par settle Omidria patent infringement lawsuit
In October, Omeros Corp. (NASDAQ:OMER) said it and Par Pharmaceuticals Inc. settled a patent infringement lawsuit concerning Par's proposed generic version of Omeros' Omidria ketorolac/phenylephrine. Par, which Endo International plc (NASDAQ:ENDP) acquired in 2015, had submitted an ANDA to FDA for the generic.
Under the companies' agreement, Par may not launch a generic version of Omidria until April 1, 2032, or until Omeros or a third party launches a generic Omidria. Omeros granted Par a non-exclusive, non-sublicensable license to make, sell and distribute generic Omidria between the permitted launch date and Oct. 23, 2033, when the last U.S. patent covering Omidria expires. During that time, Par is to pay Omeros a 15% royalty on sales of Par's generic...