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Endo paying $23 million to settle patent dispute
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CHADDS FORD, Pa. - Endo Pharmaceuticals said Wednesday it will pay LecTec Corp. $23 million to settle a dispute over patents related to pain treatments.
Endo, which makes the pain treatment Lidoderm, said it is paying the settlement in regard to two patents that LecTec challenged. LecTec is based in Texarkana, Texas, with an office in India.
Shares of Endo fell 3 cents to $22.93 in after-hours trading after falling 9 cents to close at $22.96 during the regular trading session.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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