Mylan and Novartis undergo settlement for Mylan's Femara generic

Mylan Inc and its subsidiary, Mylan Pharmaceuticals Inc., have entered into a settlement agreement with Novartis Pharmaceuticals Corp., Novartis Corp. and Novartis International AG related to Letrozole Tablets, the generic version of Novartis' Femara(R). Under the agreement Under the agreement, Mylan is provided a patent license that will enable the company to market Letrozole Tablets, 2.5 mg, prior to the expiration of U.S. Patent No. 4,978,672. The terms for the settlement remain confidential, and the agreement is subject to review by the US Department of Justice and the Federal Trade Commission. Mylan was the first company to file a substantially complete ANDA containing a Paragraph IV certification for the product.