A Medical Device Daily

OraSure Technologies (Bethlehem, Pennsylvania) reported the settlement of the patent infringement lawsuit filed against OraSure by Inverness Medical Innovations (Waltham, Massachusetts), Inverness Medical Switzerland (Geneva) and Church & Dwight (Princeton, New Jersey).

Under the settlement, OraSure has agreed to pay Inverness a sum of $3 million in cash and Inverness has agreed to grant OraSure certain licenses to its lateral flow patents. In addition, each party has received distribution rights to certain products supplied by the other party.

OraSure Technologies makes oral fluid specimen collection devices using oral fluid technologies, diagnostic products including immunoassays and other in vitro diagnostic tests, and other medical devices.