Gen-Probe To Pay $22.5M To Settle Patent Dispute With Abbott Unit

Law360, New York (September 23, 2004, 12:00 AM EDT) -- Gen-Probe will pay $22.5 million to eliminate future royalty payments and settle its patent litigation against Abbott Laboratories unit Vysis, Inc. over products for clinical diagnostics and blood screening, the company said.

Under the terms of the agreement, the $22.5 million payment will eliminate any future obligations to pay Vysis royalties under the disputed patent after the third quarter of 2004. The agreement covers products in the current field of infectious diseases as well as potential products in all other fields, such as Gen-Probe's investigational PCA3...
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