Allergan drops appeal of order blocking Alzheimer's drug switch
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Allergan PLC said on Wednesday it will not appeal to the U.S. Supreme Court a court ruling this year that blocked the company from discontinuing its top-selling Alzheimer's drug in favor of a pricier version.
Allergan will also pay $172,000 in legal expenses under a settlement with New York Attorney General Eric Schneiderman, who filed an antitrust lawsuit to block the drug switch, the company said.
Schneiderman filed the lawsuit last year after Dublin-based Actavis, since bought by Allergan, said it would discontinue its drug Namenda IR in favor of Namenda XR. The two drugs have the same active ingredient, memantine, but Namenda XR is taken once daily instead of twice.
The lawsuit claimed that by forcing patients to switch to the new version, Actavis hoped to stave off competition from drugmakers who planned to release generic versions of Namenda IR in July.
Allergan will also pay $172,000 in legal expenses under a settlement with New York Attorney General Eric Schneiderman, who filed an antitrust lawsuit to block the drug switch, the company said.
Schneiderman filed the lawsuit last year after Dublin-based Actavis, since bought by Allergan, said it would discontinue its drug Namenda IR in favor of Namenda XR. The two drugs have the same active ingredient, memantine, but Namenda XR is taken once daily instead of twice.
The lawsuit claimed that by forcing patients to switch to the new version, Actavis hoped to stave off competition from drugmakers who planned to release generic versions of Namenda IR in July.
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