India, Feb. 10 -- Axsome Therapeutics, Inc. (AXSM) announced on Monday that it has reached a settlement agreement with Teva Pharmaceuticals (TEVA), resolving all ongoing patent litigation related to its AUVELITY or dextromethorphan HBr - bupropion HCl product.
Auvelity or dextromethorphan/bupropion, developed by Axsome, was approved by the FDA for the treatment of major depressive disorder (MDD) in adults in August 2022.
The litigation dates back to 2023 when Teva filed an Abbreviated New Drug seeking approval for a generic version of AUVELITY before the expiration of its patents.
Under the terms of the settlement agreement, Teva will be granted a license to sell its generic version of AUVELITY starting on or after March 31, 2039, if ped...