8-KOther Events

BECTON DICKINSON & CO 8-K Report, Corporate Update (Dec 4, 2012)

Filed December 4, 2012For Securities:BDX

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.

Frequently Asked Questions

The dispute involved allegations that Becton Dickinson's products were infringing on patents held by Gen-Probe. The case was being heard in the U.S. District Court for the Southern District of California.

BD has been granted a license to make, use, and sell the products that were the subject of the infringement claims. The settlement also involves an upfront payment and ongoing royalty payments from BD to Gen-Probe.

Becton Dickinson has stated that the payments associated with this settlement, including the upfront payment and royalties, are not material to the company's financial position.

As part of the settlement, both Becton Dickinson and Gen-Probe have jointly requested that the U.S. District Court for the Southern District of California dismiss the legal action.