UPDATE 1-Synergetics signs $32 mln licensing deal with Alcon
* Says grants Alcon license to sell some of its products
* Synergetics and Alcon to settle all litigation
* Synergetics shares up 60 pct in after-market trade
April 27 (Reuters) - Medical device maker Synergetics USA (SURG.O) said Alcon Laboratories Inc ACL.N agreed to pay $32 million for the right to sell some of Synergetics' products worldwide and to settle all pending litigation between the two companies.
Shares of Synergetics surged 60 percent in after-market trade.
The agreements also provide for the resolution of any future disputes through a well-defined mediation process, Synergetics said.
Eye care products maker Alcon is being acquired by Swiss drugmaker Novartis AG (NOVN.VX). Shares of Synergetics rose to $2.97 in after-market trade. They closed at $1.85 Tuesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Gopakumar Warrier)
- U.S. war veteran released by North Korea returns home |
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- U.S. ice storm causes blackouts, delays in Texas, Arkansas
- WTO overcomes last minute hitch to reach its first global trade deal
- China's parliament: Japan has "no right to criticize" air defense zone