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Qiagen, Becton Dickinson Settle Patent Infringement Lawsuit For $53M

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Qiagen, Becton Dickinson Settle Patent Infringement Lawsuit For $53M
  • Qiagen N.V. (NYSE: QGEN) settled with Becton Dickinson & Co (NYSE: BDX) a patent infringement lawsuit related to Qiagen's NeuMoDx 96 and NeuMoDx 288 clinical PCR systems.
  • Under the terms of the agreement, all pending patent and non-patent claims have been resolved between plaintiff BD and codefendants Qiagen and former officers of NeuMoDx.
  • BD will receive a one-time, lump-sum payment of $53 million. The agreement includes general releases of all parties with no admissions of wrongdoing.
  • BD in 2019 alleged NeuMoDx, then an independent company but under a merger agreement with Qiagen, had infringed on several US patents covering technologies surrounding the use of microfluidic cartridges for molecular diagnostic assays and instruments.
  • NeuMoDx filed counterclaims and affirmative defense, namely that certain patents were invalid and unenforceable under US patent laws due to prior art and obviousness. 
  • Qiagen said that the settlement does not affect its outlook for net sales and adjusted EPS for Q4 and FY21.
  • Related: Qiagen Clocks 17% Increase In Non-COVID Product Sales; Raises FY21 Guidance
  • Price Action: BDX shares closed at $243.71 on Friday, while QGEN closed at $54.24.
 

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