BOCA RATON, Fla., June 14, 2012 /PRNewswire/ -- Breckenridge Pharmaceutical, Inc. announced today that Breckenridge and Alembic Pharmaceuticals Limited have settled their Paragraph IV patent litigation with Novartis concerning Rivastigmine Tartrate Capsules, a generic version of Exelon® by Novartis, and that the U.S. Food and Drug Administration (FDA) approved their Abbreviated New Drug Application (ANDA). The companies will launch immediately. Alembic Pharmaceuticals Limited is the sponsor and manufacturer of the ANDA, which will be marketed exclusively by Breckenridge. Under the terms of the settlement agreement, Novartis has granted Breckenridge and Alembic a license to market a generic version of Exelon® before the expiration of U.S. Patent No. 5,602,176, on February 11, 2014.