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PDL BioPharma, Anchen Pharmaceuticals settle patent dispute

PDL BioPharma Inc. reached a settlement agreement with Anchen Pharmaceuticals Inc., which is looking to market a copycat version of the company's hypertension drug Tekturna.

PDL BioPharma agreed to drop patent litigation against the company and grant the Irvine, Calif.-based drugmaker a license to manufacture and sell a generic version of Tekturna in the U.S. starting March 1, 2019.

The patent covering PDL BioPharma's Tekturna expires in February 2026.

PDL BioPharma and Anchen will submit the settlement deal for review with the U.S. Federal Trade Commission and the antitrust division of the U.S. Department of Justice.