Lupin announced that the company and its wholly owned subsidiary, Lupin Pharmaceuticals Inc., USA, have entered into a settlement and license agreement with Astellas Pharma Inc., Astellas Ireland Co., and Astellas Pharma Global Development Inc. (collectively Astellas) in respect of a patent infringement dispute related to the company's product 'Mirabegron'.
Under the terms of the Agreement, Lupin will pay Astellas (1) USD 90 million, which includes a Prepaid Option Payment of USD 75 million, and (2) a Prepaid Per Unit License Fee for each unit of Lupin Product sold from the date of the settlement through September 2027. The settlement terms are confidential.