Catalyst Pharmaceuticals settles lawsuit with Lupin

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Catalyst Pharmaceuticals (NASDAQ:CPRX [https://seekingalpha.com/symbol/CPRX]) said that the company and licensor SERB S.A. signed a settlement agreement with Lupin Pharmaceuticals, putting an end to a patent lawsuit.

The lawsuit was in response to Lupin's request to the FDA for permission to sell a generic version of Firdapse (amifampridine) 10 mg tablets before the existing patents expire.

According to the terms [https://seekingalpha.com/pr/20210082-catalyst-pharmaceuticals-announces-settlement-of-firdapse-amifampridine-patent-litigation]of the settlement deal, Lupin will not be able to sell its generic version of Firdapse in the U.S., until at least February 25, 2035, assuming it receives approval from the U.S. FDA.

Additionally, the agreement states that all current patent lawsuits between Catalyst/SERB and Lupin concerning Firdapse patents in the U.S. District Court for the District of New Jersey will be dismissed.

Shares of CPRX are up 2.75%.

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