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CARY, N.C. - Heron Therapeutics, Inc. (NASDAQ:HRTX), a commercial-stage biotech company with a market capitalization of $324 million and healthy liquidity position, has reached a settlement with Mylan Pharmaceuticals, Inc., a subsidiary of Viatris Inc., over patent disputes concerning two of its drugs. According to InvestingPro data, the company maintains a strong current ratio of 2.29, indicating solid short-term financial stability. According to the agreement announced today, Heron will grant Mylan the right to market generic versions of CINVANTI® and APONVIE® in the United States starting June 1, 2032.
The settlement resolves ongoing litigation in the U.S. District Court for the District of Delaware, which began in September 2023 and January 2024 following Mylan’s attempts to gain FDA approval for generic counterparts of the drugs before the patents’ 2035 expiration. As part of the settlement, both companies will request the court to dismiss the pending lawsuits.
CINVANTI® and APONVIE®, both formulations of aprepitant, are used to prevent nausea and vomiting in patients undergoing chemotherapy. The agreement allows Mylan to launch its generic products potentially earlier than 2032 under certain customary circumstances.
This development comes as part of Heron’s broader efforts to develop and commercialize products that enhance patient care in acute and oncology settings. The company, which has shown impressive revenue growth of 13.57% over the last twelve months, emphasizes that forward-looking statements in the news release are subject to various risks and uncertainties and may change as new information becomes available. For detailed financial analysis and additional insights, investors can access comprehensive research reports on InvestingPro, which offers exclusive valuation metrics and growth forecasts for over 1,400 US stocks.
The information in this article is based on a press release statement from Heron Therapeutics, Inc.
In other recent news, Heron Therapeutics reported fourth-quarter earnings that exceeded expectations, leading to a notable increase in their stock. The company posted adjusted earnings per share of $0.02, surpassing analyst estimates of -$0.03. Heron’s revenue for the quarter reached $40.78 million, exceeding the consensus estimate of $37.3 million and marking a 19.1% increase compared to the previous year. The ZYNRELEF pain medication contributed significantly with Q4 net revenue of $8.5 million, a 48.5% increase year-over-year. For the full year 2024, Heron achieved total net revenue of $144.2 million, representing a 13.6% rise from the previous year. The company has provided guidance for 2025, projecting full-year net revenue between $153 million and $163 million, aligning closely with analyst expectations of $160.6 million. Additionally, Heron anticipates adjusted EBITDA to range from $0 to $8 million for the upcoming year. The company also expanded label indications for ZYNRELEF and launched a new vial access needle in December 2024. Heron concluded the year with $59.3 million in cash and short-term investments.
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