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Posts tagged "intellectual property"

Allergan, Senju, & Kyorin To Pay $9 Million to Settle Product Hopping Suit

On February 16, 2018, Allergan Inc. ("Allergan"), Senju Pharmaceutical Co. Ltd., and Kyorin Pharmaceutical Co. Ltd. (collectively, "Defendants") announced a proposed settlement in which they will pay Hartig Drug Co. Inc. ("Plaintiff") $9 million to end a class action over alleged "product hopping" related to eye care products, Zymar and Zymaxid. Product hopping is a term used to describe the practice of pharmaceutical companies making modest drug reformulations that offer little or no therapeutic advantages in an effort to obstruct generic competitors and preserve monopoly profits on a patented drug. In 2012, the Federal Trade Commission filed an amicus brief stating that product hopping undermines state and federal laws that encourage generic competition and explained that the conduct can be the basis for an antitrust lawsuit.[1]

Uber to Pay Waymo $245 Million in Equity to Settle Trade Secret Lawsuit

On February 9, 2018, Uber Technologies Inc. ("Uber") and Waymo LLC ("Waymo") announced a deal in which Uber will pay Waymo 0.34 percent of its equity to settle Waymo's claims that it stole trade secrets and infringed patents related to Waymo's proprietary laser system used to help guide driverless vehicles. At a $72 billion valuation, 0.34 percent of Uber's equity equates to approximately $245 million. As part of the deal, Uber also has agreed not to incorporate Waymo trade secrets into its autonomous vehicle hardware and software.