PDL settles lawsuit, gets rejected on acquisition
PDL BioPharma, Inc. of incline Village, has entered into a settlement agreement with Valeant Pharmaceuticals International, Inc. and its indirect subsidiary Valeant Pharmaceuticals Luxembourg S.à r.l.
The lawsuit was filed on Sept. 7 and relating to alleged underpayment royalties by Valeant. Under the settlement, Valeant will pay a lump sum of $13 million and releasing all claims against it.
In another announcement, Neos Therapeutics, Inc. has rejected PDL BioPharma’s offer to acquire Neos.
On Oct. 26, PDL proposed to acquire Neos for $10.25 per share in cash.
The $33.2 million parking garage project at UNR, being worked on by Clark/Sullivan Construction, marks the first piece of development that would eventually link the southern end of campus to the downtown core.