In exchange, CooperVision will pay CIBA Vision a royalty on US net sales of its Biofinity® contact lenses until 2014 and on net sales outside of the US until 2016. CIBA Vision also has licensed two patent families from CooperVision related to contact lens designs. Further terms of the agreement are confidential.
This follows a settlement of patent litigation, also involving the Nicolson patents, between CIBA Vision and Bausch & Lomb, reached in 2004, when CIBA Vision and Bausch & Lomb cross-licensed rights to their silicone hydrogel contact lens technologies. As part of the agreement, Bausch & Lomb agreed to pay CIBA Vision a royalty on net US sales of its PureVision(TM) brand contact lenses until 2014 and on net sales outside the US until 2016.
About CIBA Vision
With worldwide headquarters near Atlanta, CIBA Vision is a global leader in research, development and manufacturing of optical products and services, including contact lenses and lens care products. CIBA Vision products are available in more than 70 countries. For more information, visit the CIBA Vision web site at www.cibavision.com.
CIBA Vision is the eye care unit of Novartis, a world leader in offering medicines to protect health, cure disease and improve well-being. In 2006, the Group's businesses achieved net sales of USD 37.0 billion and net income of USD 7.2 billion. Approximately USD 5.4 billion was invested in R&D. Headquartered in Basel, Switzerland, Novartis Group companies employ approximately 100,000 associates and operate in over 140 countries around the world. For more information, please visit http://www.novartis.com.