Cypress Pharmaceutical Inc said it
settled a patent dispute with
GlaxoSmithKline over ranitidine oral solution products [Zantac(R) syrup].
Under the terms of the settlement, Glaxo has agreed not to assert its patent against
Cypress' new alcohol-free formulation of its generic ranitidine oral syrup.
Cypress expects to launch the product immediately upon receiving FDA approval.
As a result of the settlement, the parties filed a stipulation to dismiss their patent litigation pending in the U.S. District Court for the Southern District of New York.
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