PDL settles lawsuit, gets rejected on acquisition | nnbw.com
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PDL settles lawsuit, gets rejected on acquisition

NNBW Staff

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.