BRIDGEWATER, N.J., July 31, 2019 /CNW/ -- Bausch Health
Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company")
along with its wholly owned subsidiary, Salix Pharmaceuticals
("Salix"), one of the largest specialty pharmaceutical companies in
the world committed to the prevention and treatment of
gastrointestinal diseases, have agreed to resolve the outstanding
intellectual property litigation with Teva Pharmaceuticals
USA, Inc. ("Teva") regarding
APRISO® (mesalamine) extended-release capsules 0.375g.
Under the terms of the agreement, Salix will grant Teva a
non-exclusive license effective Oct. 1,
20211 to the Salix intellectual property relating
to APRISO in the United States.
Bausch Health will not make any financial payments or other
transfers of value as part of the agreement.
The parties have agreed to dismiss all litigation related to
APRISO, and intellectual property protecting APRISO will remain
intact and enforceable. The Company will continue to vigorously
defend its intellectual property. The final patent expiry on APRISO
is 2030.
Bausch Health has also amended its prior sub-license agreement
with Lupin Pharmaceuticals, Inc. Two other paragraph IV filings
remain.
About Salix
Salix is one of the largest specialty
pharmaceutical companies in the world committed to the prevention
and treatment of gastrointestinal diseases. For almost 30 years,
Salix has licensed, developed, and marketed innovative products to
improve patients' lives and arm health care providers with
life-changing solutions for many chronic and debilitating
conditions. Salix currently markets its product line to U.S. health
care providers through an expanded sales force that focuses on
gastroenterology, hepatology, pain specialists, and primary care.
Salix is headquartered in Bridgewater,
New Jersey.
About Bausch Health
Bausch Health Companies Inc.
(NYSE/TSX: BHC) is a global company whose mission is to improve
people's lives with our health care products. We develop,
manufacture and market a range of pharmaceutical, medical device
and over-the-counter products, primarily in the therapeutic areas
of eye health, gastroenterology and dermatology. We are delivering
on our commitments as we build an innovative company dedicated to
advancing global health. More information can be found at
www.bauschhealth.com.
Forward-looking Statements
This news release may contain forward-looking statements, which may
generally be identified by the use of the words "anticipates,"
"expects," "intends," "plans," "should," "could," "would," "may,"
"will," "believes," "estimates," "potential," "target," or
"continue" and variations or similar expressions. These statements
are based upon the current expectations and beliefs of management
and are subject to certain risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include,
but are not limited to, risks and uncertainties discussed in the
Company's most recent annual or quarterly report and detailed from
time to time in the Company's other filings with the Securities and
Exchange Commission and the Canadian Securities Administrators,
which factors are incorporated herein by reference. In addition,
certain material factors and assumptions have been applied in
making these forward-looking statements, including that the risks
and uncertainties outlined above will not cause actual results or
events to differ materially from those described in these
forward-looking statements. The Company believes that the material
factors and assumptions reflected in these forward-looking
statements are reasonable, but readers are cautioned not to place
undue reliance on any of these forward-looking statements. These
forward-looking statements speak only as of the date hereof. Bausch
Health undertakes no obligation to update any of these
forward-looking statements to reflect events or circumstances after
the date of this news release or to reflect actual outcomes, unless
required by law.
1 Teva will be able to begin marketing the
medicine earlier if another generic 0.375g extended release
mesalamine product is granted approval and starts selling or
distributing such generic mesalamine product before Oct. 1, 2021.
APRISO is a trademark of Bausch Health Companies
Inc. or its affiliates.
Investor/Media
Contact:
Arthur
Shannon
arthur.shannon@bauschhealth.com
(514)
856-3855
(877) 281-6642 (toll
free)
View original content to download
multimedia:http://www.prnewswire.com/news-releases/bausch-health-provides-apriso-intellectual-property-litigation-update-300894409.html
SOURCE Bausch Health Companies Inc.