Abaxis Announces Settlement of Patent Litigation With Cepheid

Abaxis

, a medical products company manufacturing point of care instruments and consumables for the medical, research, and veterinary markets, and providing reference lab services to the veterinary and research markets, announced today that a settlement had been reached in its lawsuit with Cepheid, Inc.

, over several Abaxis patents relating to reagent and chemical compositions and processes. As part of the agreement, Cepheid will pay Abaxis $17.25 million, and all claims asserted against Cepheid in the pending litigation have been dismissed.