Thursday, OraSure Technologies Inc. (OSUR) announced the settlement of the patent infringement lawsuit filed against OraSure by Inverness Medical Innovations, Inc. (IMA), Inverness Medical Switzerland GmbH and Church & Dwight, Co., Inc. (CHD).
Under the settlement, OraSure said it has agreed to pay Inverness a sum of $3,000,000 in cash and Inverness has agreed to grant OraSure certain licenses to its lateral flow patents. In addition, each party has received distribution rights to certain products supplied by the other party.
As a result of the litigation settlement, the company said it now expects its net loss per share for the fourth quarter of 2009 to be $0.10 - $0.11.
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