CIBA Vision, the eye care unit of Novartis, announces settlement of patent litigation with CooperVision, Inc.
CIBA Vision, the eye care unit of Novartis, has reached a final global patent litigation settlement agreement with CooperVision, Inc. (NYSE: COO) that resolves all current patent infringement lawsuits between the two companies.
CIBA Vision has licensed its so called “Nicolson” patents to CooperVision. This will enable both companies to move forward in bringing forth new and improved innovations to meet the needs of eye care professionals and consumers. The Nicolson patents cover high-oxygen-transmissible contact lenses, including CIBA Vision’s O2OPTIX(TM), AIR OPTIX(TM) and NIGHT & DAY� silicone hydrogel contact lenses.
In exchange, CooperVision will pay CIBA Vision a royalty on US net sales of its Biofinity� contact lenses until 2014 and on net sales outside of the US until 2016. CIBA Vision also has licensed two patent families from CooperVision related to contact lens designs. Further terms of the agreement are confidential.
This follows a settlement of patent litigation, also involving the Nicolson patents, between CIBA Vision and Bausch & Lomb, reached in 2004, when CIBA Vision and Bausch & Lomb cross-licensed rights to their silicone hydrogel contact lens technologies. As part of the agreement, Bausch & Lomb agreed to pay CIBA Vision a royalty on net US sales of its PureVision(TM) brand contact lenses until 2014 and on net sales outside the US until 2016.
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