ROCHE: A Heavy Weight to give Substance to your Portfolio
waldron - Tue, 30 Dec 03 :
HAYWARD, CA (AFX) - Cholestech Corp said it will pay 7 mln usd to Roche Diagnostics Corp and Roche Diagnostics GmbH in a settlement of ongoing patent infringement litigation over HDL cholesterol diagnostic tools.
The settlement serves as the basis for the dismissal of all patent litigation between the parties on a worldwide basis, it said.
In addition, Roche will grant an irrevocable, non-exclusive, worldwide license to Cholestech for its patents related to HDL cholesterol.
Cholestech will pay Roche an ongoing royalty that will be applied to only the HDL portion of cholesterol test cassettes sold by Cholestech.
The parties have been in litigation in the US District Court for the Southern District of Indiana, Germany, Belgium, Switzerland and Austria.
The one-time payment to Roche associated with this settlement agreement, along with legal and related expenses, will be included as an expense in Cholestech's financial statements for the quarter ended Dec 26, 2003.
Cholestech offers diagnostic tests for cholesterol and related lipids, blood glucose and glycemic control, and liver function.
