Lupin buys rights to anti-cholesterol drug

NEW DELHI, India An Indian generic drug company has bought the U.S. marketing rights to a cholesterol drug from a bankrupt branded drug maker.

Lupin bought rights to the drug Antara (fenofibrate) from Waltham, Mass.-based Oscient Pharmaceuticals for $39 million, according to published reports. Oscient had received marketing rights from French drug maker Ethypharm, which will continue to manufacture it.

Lupin had filed an approval application with the Food and Drug Administration to market a generic version of Antara, prompting a lawsuit from Oscient, but it has since sold its application to Dr. Reddy’s Labs. Lupin also faces a challenge to its patent from Paddock Labs.