Medicis shares surge after settlement

The drugmaker says it cuts a deal to end a patent dispute over a generic version of the acne drug Solodyn.

EMAIL  |   PRINT  |   SHARE  |   RSS
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all RSS FEEDS (close)

The companies announced a settlement of the patent dispute over a generic version of the acne drug Solodyn.

NEW YORK ( -- Shares of Medicis Pharmaceutical Corp. rose more than 25% in midday trading Tuesday, following the settlement of a patent dispute with a competitor.

Late Monday, Medicis (MRX) announced it cut a deal with Impax Laboratories Inc., ending a patent dispute over a generic version of the acne drug Solodyn.

At 12:30 p.m. ET, Medicis shares were up $2.81 to $13.93.

According to the announcement, Impax retains the right to market a generic version no later than November 2011. After launching its drug, the conpanies said Impax will pay Medicis a royalty based on sales.

The companies will also collaborate on research and development of five "strategic dermatology product opportunities," including a more advanced version of Solodyn, according to a statement issued by the companies.

The companies said Impax has agreed that Medicis' patents relating to Solodyn are valid and enforceable. To top of page

They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
17 cool gadgets that tease the future Smart telescopes, surveillance for dogs, an electric roadster and more from CES 2018. More
These 12 airplane beds let you really sleep on a flight For the price of a premium class ticket, you may just get a space that's comfortable, private, and quiet enough to ensure a good rest. More
CES 2018 kicks off with oddball gadgets The biggest tech show of the year opened with a collection of quirky gadgets. More