Qiagen, Becton Dickinson Settle Patent Infringement Lawsuit For $53M

Qiagen N.V. QGEN settled with Becton Dickinson & Co BDX a patent infringement lawsuit related to Qiagen's NeuMoDx 96 and NeuMoDx 288 clinical PCR systems.
Under the terms of the agreement, all pending patent and non-patent claims have been resolved between plaintiff BD and codefendants Qiagen and former officers of NeuMoDx.
BD will receive a one-time, lump-sum payment of $53 million. The agreement includes general releases of all parties with no admissions of wrongdoing.
BD in 2019 alleged NeuMoDx, then an independent company but under a merger agreement with Qiagen, had infringed on several US patents covering technologies surrounding the use of microfluidic cartridges for molecular diagnostic assays and instruments.
NeuMoDx filed counterclaims and affirmative defense, namely that certain patents were invalid and unenforceable under US patent laws due to prior art and obviousness.
Qiagen said that the settlement does not affect its outlook for net sales and adjusted EPS for Q4 and FY21.
Related: Qiagen Clocks 17% Increase In Non-COVID Product Sales; Raises FY21 Guidance.
Price Action: BDX shares closed at $243.71 on Friday, while QGEN closed at $54.24.