Chattem To License LecTec Patch Patents For $3.6M

Law360, New York (March 29, 2011, 2:42 PM EDT) -- Chattem Inc., the company behind Gold Bond and numerous other over-the-counter health care brands, agreed Monday to pay $3.6 million to LecTec Corp. to license two patents for medicated patches and exit an infringement action in Texas.

LecTec asked Judge David Folsom of the U.S. District Court for the Eastern District of Texas to dismiss Chattem, a subsidiary of Sanofi Aventis US, leaving only one defendant left in the patent holding company’s effort to monetize its adhesive patch patents.

With a trial scheduled for April 11,...
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