Summary
This 8-K filing from Becton, Dickinson and Company (BD) reports a significant development on December 1, 2012: the signing of a definitive settlement agreement with Gen-Probe. This agreement resolves a legal dispute concerning patent infringement in the U.S. District Court for the Southern District of California. Under the terms of the settlement, BD has secured a license to manufacture, utilize, and market the products that were previously accused of infringing Gen-Probe's patents. The financial impact on BD from this settlement, which involves an upfront payment and future royalty obligations, is deemed immaterial. The parties have jointly requested the court to dismiss the ongoing legal action, signaling a closure to this matter.
Key Highlights
- 1Becton, Dickinson and Company (BD) settled a patent infringement lawsuit with Gen-Probe.
- 2The settlement was finalized on December 1, 2012.
- 3BD has obtained a license to produce, use, and sell the previously disputed products.
- 4The settlement includes an upfront payment and ongoing royalty payments from BD to Gen-Probe.
- 5BD has stated that the financial terms of the settlement are not material to the company.
- 6Both parties have requested the dismissal of the lawsuit from the U.S. District Court for the Southern District of California.