BETHLEHEM, Pa. (AP) - OraSure Technologies Inc., which develops diagnostic
tests for HIV and drug use, said Wednesday it agreed to settle its pending
patent infringement lawsuit against drug company Schering-Plough Healthcare
Products Inc.
OraSure filed a lawsuit in 2004 in the U.S. District Court for the Eastern
District of Pennsylvania. The Bethlehem, Pa.-based company alleged that
Schering-Plough's manufacture and sale of its Dr. Scholls Freeze Away
cryosurgical wart removal product in the U.S. over-the-counter market infringed
several OraSure patents.
The case was dismissed by the court since a settlement agreement has been
reached.
As part of the settlement, Schering-Plough will receive a license to
OraSure's patents in the U.S. OTC market and OraSure will receive payments of
past and future royalties.
The settlement is subject to completion and a final agreement.
Schering-Plough Healthcare Products is a subsidiary of Schering-Plough.
Shares of OraSure rose 32 cents, or 3.5 percent, to $9.59 in morning trade,
while Schering-Plough's stock rose 17 cents to $29.79.
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