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Allergan, Pharmacia reach tentative agreement over Lumigan
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IRVINE, Calif. — Allergan has reached an “agreement in principle” with Pharmacia regarding intellectual property disputes over the companies’ glaucoma drugs.
The suits, two in the United States and a number of others in Europe, concern patent issues regarding Allergan’s drug Lumigan (bimatoprost) and Pharmacia’s drug Xalatan (latanoprost).
The tentative agreement, which includes a provision whereby Allergan will pay royalties to Pharmacia, settles all disputes. An Allergan statement says the final agreements documenting the settlement are expected to be signed within days.
Suki Shattuck, a spokeswoman for Allergan, said she could not comment on the amount or duration of the royalty payments.
However, she said, “We do not expect these royalties to impact our guidance on either gross margins or earnings per share for next year.”
In a press release, Allergan stated it expected to record a reserve of $118.7 million to the third quarter 2002 relating to the agreement.