Shire, Impax settle Adderall XR dispute

Shire has settled a patent dispute with generic drug maker Impax for the attention-deficit disorder drug Adderall XR. Under the terms of the settlement, Impax's generic version of the drug will be allowed to enter the market as of 2010. Shire will receive royalties on all sales. The company is still in litigation with Barr Laboratories over Adderall XR. "We are very pleased to have resolved the lawsuits against Impax. The settlement terms are consistent with our beliefs that Shire's patents are valid and enforceable," stated Matthew Emmens, Shire's CEO. Shire's stock surged on the news.

- read this AP report