Akzo Nobel settles Remeron court cases

Akzo Nobel settles Remeron court cases Arnhem, the Netherlands, April 16, 2004 - Akzo Nobel, the international pharmaceuticals, coatings and chemicals company, confirmed today that it and its wholly owned subsidiary Organon USA have reached settlements with the three generic drug manufacturers that are asserting antitrust counterclaims related to the Company's patent infringement suits regarding the antidepressant Remeron® (mirtazapine). The agreements amount to a total of USD 28 million. The Company is also in the process of concluding a tentative settlement with a class of consumers and third party payors in the United States who paid for mirtazapine during the relevant period (the 'indirect purchaser' class). This settlement is subject to certain conditions including, but not limited to, the execution of a definitive agreement and approval by the Federal District Court of New Jersey (United States). The patent at issue involves the use of Remeron in combination with so-called SSRIs to reduce certain side effects. The plaintiffs alleged that the Company's assertion of the patent delayed the market introduction of generic mirtazapine and violated the antitrust laws. Akzo Nobel continues to believe that its actions in obtaining and enforcing its intellectual property rights were appropriate. However, given the costs and risks of defending these actions, the Company took the opportunity to resolve these matters. Similar actions have been brought by an alleged class of direct purchasers and by entities that opted out of the alleged direct purchaser class such as CVS and Walgreens. These actions remain pending in the Federal District Court of New Jersey. No trial date has been set. The Company will continue to defend these remaining claims vigorously. Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2003 totaled EUR 13 billion. The Company currently employs approximately 64,500 people in more than 80 countries. The financial results for the first quarter will be published on April 20, 2004. Organon, headquartered in Roseland, NJ, USA creates and markets prescription medicines that improve the health and quality of human life. Through a combination of independent growth and business partnerships, Organon strives to become or remain one of the leading pharmaceutical companies in each of its core therapeutic fields: reproductive medicine, psychiatry and anesthesia. Organon products are sold in over 100 countries, of which more than 60 have an Organon subsidiary. Organon is the human health care business unit of Akzo Nobel. Internet: www.akzonobel.com; www.organonusa.com Not for publication - for more information Akzo Nobel N.V. Corporate Media Relations, tel. +31 26 366 4343 Safe Harbor Statement* This press release may contain statements which address such key issues as Akzo Nobel's growth strategy, future financial results, market positions, product development, pharmaceutical products in the pipeline, and product approvals. Such statements should be carefully considered and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more complete discussion of the risk factors affecting our business please refer to our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission. A copy of which can be found on the Company's website. * Pursuant to the U.S. Private Securities Litigation Reform Act 1995. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/04/16/20040416BIT20290/wkr0006.pdf Pressmeddelandet som pdf