Mumbai, April 29: Wockhardt has settled a patent dispute with European firm Orion for the generic versions of two drugs used in the treatment of Parkinson’s disease.

The company has executed a settlement and licence agreement with Orion Corporation regarding Wockhardt's application before the US drug regulator for the generic version of Orion’s Comtan and Stalevo products.

Under the terms of settlement, Wockhardt will be able to launch generic versions of both the drugs on September 30, 2012, or possibly even earlier, the company said.

Wockhardt, as the first generic challenger to the Comtan patents, would be eligible for 180 days of marketing exclusivity upon launch in the US, it said.

“We are pleased with the agreement and are excited to have capitalised on these first-to-file opportunities, which are an indication of the strength of our R&D and intellectual property initiatives,” Wockhardt chairman Habil Khorakiwala said.

In 2007, Orion had filed a lawsuit against Wockhardt. Two more lawsuits were filed in 2008. The settlement agreement relates to all three suits.

According to available data, annual sales of Comtan and Stalevo in the US were $87 million and $113 million, respectively.

Orion is a pharmaceuticals and diagnostics company and is engaged in human and veterinary drugs, active pharmaceutical ingredients and diagnostic tests.

On the BSE, Wockhardt shares rose less than one per cent to finish at Rs 90.20 following the announcement.