CIBA, CooperVision reach settlement

Duluth, GA, and Fairport, NY-CIBA Vision and CooperVision have reached a settlement that resolves all current patent infringement litigation, according to the two companies.

Under the agreement, CIBA Vision said it will license its "Nicolson" patents to CooperVision in exchange for royalties on global sales. CooperVision said it will pay CIBA royalties on U.S. net sales of its Biofinity lenses until 2014 and on net sales outside the United States until 2016.

CIBA Vision said it also has licensed two patents from CooperVision relating to contact lens designs.