Bausch & Lomb, Novartis Unit Settle Patent Case

Bausch & Lomb's (BOL Quote) patent battle with CIBA Vision, a unit of Novartis AG (NVS Quote), officially ended Friday, with both companies signing a global settlement to cross-license their contact lens technologies.

Under the terms of the settlement agreement, Bausch & Lomb will pay CIBA royalties on net U.S. sales of PureVision brand contact lenses until 2014 and on sales outside the U.S. until 2016. The two companies had been engaged in a protracted battle over rival silicone hydrogel contact lens technologies.

"While the process that led to this settlement was a long one, both CIBA Vision and Bausch & Lomb believe the settlement is in the best interests of eye care professionals and consumers around the world," said Andrea Saia, president of CIBA's global lens business. ...