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LecTec and Endo Pharmaceuticals Come to Terms on Patent Dispute

Posted on: Tue, 17 Nov 2009 00:15:00 EST

Symbols: ENDP, LECT

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In a release, the Company noted that Endo Pharmaceuticals has agreed to make a one-time, $23 million payment for the exclusive license to these two patents for use in the field of prescription pain medicines and treatment. "LecTec is pleased to have reached an agreement with Endo Pharmaceuticals which avoids the uncertainties of litigation and provides LecTec with the capital to explore the opportunities in its patent portfolio," said Judd Berlin, chief executive officer of LecTec.

LecTec said that it filed a patent infringement action in U.S. District Court in July 2008 against Endo Pharmaceuticals and others in the topical medicated patch business alleging patent infringement of the core structure and composition claims of two of LecTec's patents.

LecTec Corp. is an intellectual property licensing and holding company.

((Comments on this story may be sent to health@closeupmedia.com))

For full details on Endo Pharmaceuticals Hld (ENDP) ENDP. Endo Pharmaceuticals Hld (ENDP) has Short Term PowerRatings at TradingMarkets. Details on Endo Pharmaceuticals Hld (ENDP) Short Term PowerRatings is available at This Link.

For full details on (LECT) LECT. (LECT) has Short Term PowerRatings at TradingMarkets. Details on (LECT) Short Term PowerRatings is available at This Link.

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