By Bowdeya Tweh 
 

Celgene Corp. (CELG) said Friday it reached a settlement with a drug manufacturer that would permit that firm sell a generic version of Revlimid in the U.S. starting in 2022.

Celgene, of Summit, N.J., has granted Alvogen Pine Brook LLC the ability to market limited quantities of generic lenalidomide after March 2022, the drug maker said. Celgene reached a deal with Natco Pharma Ltd. in 2015, granting the firm a license to sell the generic in the U.S. starting in March 2022.

The generic can be sold without quantity limitations in the U.S. after Jan. 31, 2026, Celgene said.

Alvogen's ability to market the product in the U.S. is pending approval from the Food and Drug Administration of an abbreviated new drug application.

Last year Revlimid generated $6.47 billion of U.S. sales and $9.69 billion in sales world-wide.

Bristol-Myers Squibb Co. (BMY), which agreed in January to buy Celgene for roughly $74 billion deal, said Friday the agreement helps provide "further clarity and security around the patent estate for Revlimid."

"We are confident in the strength of our combination with Celgene and our ability to create a premier biopharma company with leading franchises and a deep and broad pipeline that will drive sustainable growth," the company said in a statement.

 

Write to Bowdeya Tweh at bowdeya.tweh@wsj.com

 

(END) Dow Jones Newswires

March 29, 2019 14:11 ET (18:11 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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