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UPDATE 1-Synergetics signs $32 mln licensing deal with Alcon
April 27, 2010 / 10:19 PM / in 7 years

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)

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