Endo Pharmaceuticals reaches patent litigation settlement with LecTec

Endo Pharmaceuticals (Nasdaq: ENDP) announced today that it has reached a settlement with LecTec Corporation on outstanding patent litigation related to LecTec's U.S. Patent Nos. 5,536,263 and 5,741,510.

Endo Pharmaceuticals has agreed to make a one-time, $23 million payment for the exclusive license to these two patents for use in the field of prescription pain medicines and treatment. "We are pleased to add these patents to our IP inventory especially as they relate to Lidoderm®," said Caroline Manogue, executive vice president and chief legal officer of Endo Pharmaceuticals.