Bausch &Lomb and Alcon Reach Settlement In Patent Lawsuit Over Contact Lens Care Technology.Business Editors ROCHESTER, N.Y.--(BUSINESS WIRE)--Jan. 27, 2000 Bausch &Lomb (NYSE NYSE See: New York Stock Exchange :BOL BOL Bolivia (ISO Country code) BOL Books Online BOL Bole (SIL code, Nigeria) BOL Bill Of Lading BOL Beginning Of Line BOL Best Of Luck BOL Buzz Out Loud BOL Bruin Online BOL Beginning Of Life ) and Alcon Laboratories, Inc., have settled a six-year-old lawsuit involving a Bausch &Lomb patent that relates to the enzymatic cleaning of contact lenses contact lenses contact npl → verres mpl de contact contact lenses contact npl → Kontaktlinsen pl contact lenses npl . The settlement agreement announced today resolves the patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. case Bausch &Lomb filed against Alcon in October 1994, in United States District Court for the Western District of New York The United States District Court for the Western District of New York is the Federal district court whose jurisdiction comprises the following counties: Allegany, Cattaraugus, Chautauqua, Chemung, Erie, Genesee, Livingston, Monroe, Niagara, Ontario, Orleans, Schuyler, Seneca, , concerning Bausch &Lomb's U.S. Patent No. 5,096,607. Under the terms of the settlement agreement, Alcon will make an up-front payment to Bausch &Lomb of $25 million, or approximately $.27 per share, which will be recorded as income in the first quarter of this year. Additionally, Alcon will pay Bausch &Lomb a stream of royalties over the next eight years for a worldwide license under Bausch &Lomb's patent for the simultaneous use of a chemical disinfecting solution with an enzyme cleaning product for contact lens contact lens, thin plastic lens worn between the eye and eyelid that may be used instead of eyeglasses. Actors, models, and others wear them for appearance, and athletes use them for safety and convenience. care. As part of the settlement, both parties have agreed that no additional details will be provided. Bausch &Lomb Incorporated is a global technology-based healthcare company for the eye, dedicated to helping consumers see, look and feel better through innovative technology and design. Its core businesses include soft and rigid gas permeable gas permeable gas adj (lenses) → luftdurchlässig contact lenses, lens-care products, ophthalmic surgical and pharmaceutical products. The company is advantaged with some of the most respected brands in the world starting with its name, Bausch &Lomb(R), and including SofLens66(TM), PureVision(TM) Boston(R), ReNu(R), and Storz(R). Founded in 1853 in Rochester, N.Y., where it continues to have its headquarters, the company has pro-forma annual revenues of approximately $1.8 billion and employs approximately 12,000 people in 35 countries. Bausch &Lomb products are available in more than 100 countries around the world. Additional information about the company can be found on Bausch &Lomb's Worldwide Web site at http://www.bausch.com. |
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