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Vision Care Rivals Ink Patent Cross-Licensing Deal

Law360 (June 24, 2008, 12:00 AM EDT) -- Advanced Medical Optics Inc. and rival eye care company Alcon Inc. have entered into a patent cross-licensing agreement relating to implantable lenses, the companies said Tuesday.

Under the deal, Alcon has agreed to pay Advanced Medical Optics $31 million and Advanced Medical Optics will make a payment to Alcon of $10 million.

Advanced Medical Optics said it expected to receive the net cash proceeds of $21 million in the second quarter of 2008.

Under the agreement, Advanced Medical Optics gets nonexclusive worldwide licenses for a group...
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