- Salix Pharmaceuticals (NASDAQ:SLXP) settles its patent infringement case with Par Pharmaceutical, Inc. over Zegerid (omeprazole). Salix owns the licenses by virtue of its acquisition of Santarus Pharmaceuticals (NASDAQ:SNTS) last November. Santarus exclusively licensed the patents from the University of Missouri.
- Under the terms of the settlement agreement, Par agrees not to challenge the validity of the patents in the future and agrees not to sell generic versions of Zegerid during the terms of the patents. It will make a one-time payment of $100M to an escrow account that will be allocated between Santarus and the University of Missouri pursuant to their 2001 Exclusive License Agreement.