Impax Labs to market generic or authorized generic version of OxyContin under deal with Purdue Pharma

HAYWARD, Calif. — Impax Labs has settled a patent-infringement suit filed by Purdue Pharma concerning the opioid painkiller OxyContin, Impax said Tuesday.

The generic drug maker said that under the agreement, it will have the right to market a certain quantity of generic oxycodone extended-release tablets upon receiving Food and Drug Administration approval. If it does not receive FDA approval, it will be allowed to market an authorized generic version of the drug starting in January 2016. An authorized generic drug is a branded drug marketed at a discounted price under its generic name, usually under a contract between the branded drug's manufacturer and a third-party company.

OxyContin is used for long-term treatment of moderate to severe pain over an extended period of time. The drug had sales of about $2.6 billion during the 12-month period that ended in September, according to IMS Health.