July 23, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Mylan Inc. (NASDAQ: MYL) said that it has entered into settlement and license agreements with Forest Laboratories and Merz Pharmaceuticals related to the Alzheimer’s drug Namenda Tablets, 5 mg and 10 mg, known generically as Memantine Hydrochloride Tablets. Under settlement and license agreements, Mylan will have the right to market Memantine HCl in the U.S. on Jan. 11, 2015, or earlier, under certain circumstances.

Namenda had U.S. sales of $1.2 billion for the twelve months ending March 31, 2010, according to IMS Health.

Forest had filed patent infringement suits against four main drug companies, including Mylan, Watson Pharmaceuticals, Dr Reddy’s Laboratories and other generic drugmakers.

Currently, Mylan has 131 ANDAs pending FDA approval.

Pennsylvania-based Mylan is a generic and specialty pharmaceutical firm with customers in more than 140 countries and territories.

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