Drugmaker Shire Plc said it settled all litigation with Actavis Inc and Watson Pharma, allowing the two companies to sell a generic version of Shire's drug, Intuniv, to treat attention deficit hyperactivity disorder.
The settlement gives Actavis the license to make and sell its version of Intuniv in the United States from December 1, 2014.
Actavis will get a 180-day period to exclusively market Intuniv, during which it will have to pay Shire a royalty of 25 percent of gross profits from the sale of the drug.
Watson will be allowed to make and sell its version of the drug in the United States 181 days after Actavis launches its version.
(Reporting by Abhishek Takle in Bangalore; Editing by Roshni Menon)