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news.Endo Pharmaceuticals to pay $23m as dispute settlement
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Endo Pharmaceuticals has agreed to make a one-time, $23m payment for the exclusive license to these two patents for use in the field of prescription pain medicines and treatment.
Endo, which makes the pain treatment Lidoderm, said it is paying the settlement in regard to two patents that LecTec challenged. LecTec is based in Texarkana, Texas, with an office in India.
Caroline Manogue, executive vice president and chief legal officer of Endo Pharmaceuticals, said: “We are pleased to add these patents to our IP inventory especially as they relate to Lidoderm.”