QLT Settles Visudyne Royalty Spat For $20M

Law360, New York (November 25, 2009, 3:31 PM EST) -- Pharmaceutical firm QLT Inc. has reached a $20 million settlement with Massachusetts General Hospital, putting to rest a royalty dispute related to sales of an eye treatment.

Canada-based QLT said Wednesday that under the terms of the deal, the $20 million payment to MGH will be taken as payment in full for all past and future royalty obligations under a licensing agreement related to the eye treatment Visudyne, and MGH’s pending lawsuit against QLT will be dismissed.

"We are pleased to put this matter behind us...
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