Actavis (ACT +1%) reaches a settlement with Shire (SHPG +1.6%) regarding an outstanding patent...

|By:, SA News Editor

Actavis (ACT +1%) reaches a settlement with Shire (SHPG +1.6%) regarding an outstanding patent litigation related to ACT's generic version of Intuniv, a treatment for ADHD. Under the terms of the settlement, ACT can launch its generic version of Intuniv on December 1, 2014, or earlier under certain circumstances. SHPG will receive a 25% royalty on gross profits from sales during the period of exclusivity.