New Delhi, February 12 Zydus Lifesciences announced on Thursday that it will pay USD 120 million to Astellas Pharma to settle a patent dispute over a medication for treating an overactive bladder.
Zydus Pharmaceuticals USA, Inc, a wholly-owned subsidiary of the company, has entered into a settlement agreement with Astellas regarding its drug Myrbetriq, the Ahmedabad-based drug maker said in a regulatory filing.
Under the terms of the settlement agreement, Zydus will pay Astellas a total of USD 120 million, it said.
Furthermore, Zydus will pay a prepaid per-unit licensing fee for units of Zydus' generic Mirabegron sold in the US from the date of the Settlement Agreement until September 2027, it added.
"This settlement agreement concludes all litigation between Astellas and the two companies relating to Myrbetriq and Mirabegron and enables Zydus to continue marketing its generic Mirabegron in the US," the drug maker stated.
Zydus shares were trading up 2.20 percent at Rs 917.80 apiece on the BSE.