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Perrigo settles patent litigation with Taro Pharmaceutical

Perrigo Co. plc settled a patent litigation with Taro Pharmaceutical Industries Ltd. for undisclosed terms.

The companies entered a dispute after Perrigo sought U.S. FDA approval to commercially market a generic version of Taro's Topicort spray.

The news is concurrent with the U.S. FDA's decision to approve Perrigo's generic version of Topicort.

The spray is indicated for the treatment of plaque psoriasis in patients 18 years or older. It had estimated sales of about $24 million for the 12 months ending November 2016.