Akebia Therapeutics and Par enter patent settlement

6 August 2019

USA-based Akebia Therapeutics’ (Nasdaq: AKBA) Keryx Biopharmaceuticals subsidiary has entered into a settlement and license agreement with Par Pharmaceutical, an Endo International (Nasdaq: ENDP) company.

Terms of the deal, which still has to get US Federal Trade Commission approval, were not revealed, but both parent companies saw their shares close down on Monday, with Endo closing down 4.36% at $2.85 and Akebia falling 6.82% to $3.55.

This settlement resolves patent litigation brought by Keryx and licensor Panion in response to Par’s Abbreviated New Drug Application (ANDA) seeking approval to market a generic version of Auryxia (ferric citrate) tablets prior to the expiration of the applicable patents.

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