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news.US-based Home Diagnostics has reached a settlement with Roche regarding a patent infringement suit filed in February 2004.
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Among the terms of the settlement is a paid-up worldwide license under the patents at issue. The amount paid by Home Diagnostics will be recorded as an expense in its fourth quarter 2007 financial results. In addition, the settlement terms include a covenant by Roche not to sue Home Diagnostics on the licensed patents.
In the complaint, Roche alleged that the Home Diagnostics’s TrueTrack Smart System and TrackEASE Smart System blood glucose monitors infringed their US patents relating to biosensing blood glucose monitors.
Richard Damron, Jr., president and CEO of Home Diagnostics, said: “We are pleased to have reached a mutually beneficial settlement with Roche and will continue our strategy to bring affordable, high-performance blood glucose monitoring products to the diabetes market.”