Mayne Pharma resolves IMVEXXY patent dispute with Teva

• Mayne Pharma settled its US Paragraph IV patent litigation with Teva Pharmaceuticals USA concerning IMVEXXY.
• The resolution involved no upfront monetary payments or cash transfers between either company.
• Teva agreed to a potential market entry date for generic IMVEXXY on Sept. 2, 2032.

Mayne Pharma (ASX:MYX) has settled its US patent litigation with Teva Pharmaceuticals USA over generic versions of the menopause treatment IMVEXXY.

The agreement resolves ongoing litigation started in April 2020 and establishes a potential generic product entry date of Sept. 2, 2032.

"Following our settlement with Sun Pharma announced on Sept. 30, today’s agreement with Teva Pharmaceuticals USA resolves all outstanding Paragraph IV litigation relating to IMVEXXY," said Mayne Pharma CEO Aaron Gray.

The settlement features no upfront monetary consideration or financial payments between the two pharmaceutical businesses.

This legal resolution leaves Mayne Pharma with no remaining active Paragraph IV patent litigation matters concerning IMVEXXY.

Following the announcement, the Mayne Pharma share price was up at $2.60.

In the 12 months ended June 30, IMVEXXY generated US$29.3 million in net sales following an 8% increase.

Total prescriptions for the estradiol vaginal insert product grew by 6% over the same 12-month period.