Blood test maker Gen-Probe Inc. said Thursday that it settled its patent disputes with drug maker Bayer HealthCare LLC, a member of the Bayer Group. Under the agreement, Gen-Probe will withdraw its patent infringement suit against Bayer, and will grant it immunity from legal action on Bayer's current nucleic acid diagnostic tests, and future Bayer products using four Gen-Probe patent families Bayer granted Gen-Probe immunity from suit on Gen-Probe's current and future Tigris instruments. Additionally, Bayer agreed to pay Gen-Probe lump sum royalties over the next 18 months. The first payment of $5 million will be made by Bayer within 15 days of execution of the final agreement. Bayer will also make a one-time royalty payment of $10.3 million during the calendar year 2007 if it sells any products that are subject to Gen-Probe's patents after 2007 begins. In 2008, Gen-Probe is entitled to a $16.4 million one-time royalty if Bayer sells products subject to Gen-Probe's patents. Also under the deal, Bayer will not be held responsible for reimbursing Gen-Probe of the $2 million it spent on legal expenses, which had originally been ordered by an arbitrator.

Posted by GEN-ERIC at 12:06:44 am into the following categories: In The News

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