Licenses to pursue Johnson & Johnson’s test str
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Posted On: 03/05/2017 11:07:26 AM
Licenses to pursue Johnson & Johnson’s test strip patents
The following are excerpts from DECN disclosures. They talk about the lawsuit settlement, where the monetary amount was not disclosed but we also received something more important than the money.....and that is some sort of "licenses". My question to this board is what does this mean? DECN already has a patent on their test strips. They do not need anything from JNJ other than to leave them alone.
So it probably is referring to something new. Perhaps it is dealing with the Abbot product that JNJ now owns. (Freestyle products.) Perhaps DECN has been given permissions to sell a new test strip designed to work with the Freestyle readers.
From the OTC PINK 2Q 2016 SUPPLEMENTAL DISCLOSURE INFORMATION Published: Aug 15, 2016
"We settled our lawsuit with the divisions of Johnson & Johnson. Although settlements of litigation typically have no winners, in this case the company benefitted through the receipt of a cash settlement payment as well as licenses to pursue Johnson & Johnson’s test strip patents."
"The amount of the settlement monies received by the company was
confidential, but the entire settlement was structured as a license agreement whereby Lifescan, Inc. granted licenses to the company
for its test strip patents in return for accommodations regarding the anti-trust and false advertising claims made by the company. The
licenses to the Lifescan Inc. patents were of great value in the overall settlement."
And then there was more comments on: OTC PINK 2q 2016 MANAGEMENTS' DISCUSSION AND ANALYSIS: Published: Sep 08, 2016
"The settlements provided a hard-fought victory for
the company. During the just ended 2Q 2016, we settled these lawsuits in a novel manner, where Johnson &
Johnson paid the company a settlement amount and also granted the company licenses to J&J patents -- the larger
value gained from this 5-year legal battle."
And then there was this from: OTC PINK CURRENT 3Q 2016 MANAGEMENTS' DISCUSSION & ANALYSIS Published: Nov 15, 2016
"Although settlements of litigation typically have no winners, in this case the company benefitted through the receipt of a cash settlement
payment as well as licenses to pursue Johnson & Johnson’s test strip patents. "
I would appreciate any comments on this.
The following are excerpts from DECN disclosures. They talk about the lawsuit settlement, where the monetary amount was not disclosed but we also received something more important than the money.....and that is some sort of "licenses". My question to this board is what does this mean? DECN already has a patent on their test strips. They do not need anything from JNJ other than to leave them alone.
So it probably is referring to something new. Perhaps it is dealing with the Abbot product that JNJ now owns. (Freestyle products.) Perhaps DECN has been given permissions to sell a new test strip designed to work with the Freestyle readers.
From the OTC PINK 2Q 2016 SUPPLEMENTAL DISCLOSURE INFORMATION Published: Aug 15, 2016
"We settled our lawsuit with the divisions of Johnson & Johnson. Although settlements of litigation typically have no winners, in this case the company benefitted through the receipt of a cash settlement payment as well as licenses to pursue Johnson & Johnson’s test strip patents."
"The amount of the settlement monies received by the company was
confidential, but the entire settlement was structured as a license agreement whereby Lifescan, Inc. granted licenses to the company
for its test strip patents in return for accommodations regarding the anti-trust and false advertising claims made by the company. The
licenses to the Lifescan Inc. patents were of great value in the overall settlement."
And then there was more comments on: OTC PINK 2q 2016 MANAGEMENTS' DISCUSSION AND ANALYSIS: Published: Sep 08, 2016
"The settlements provided a hard-fought victory for
the company. During the just ended 2Q 2016, we settled these lawsuits in a novel manner, where Johnson &
Johnson paid the company a settlement amount and also granted the company licenses to J&J patents -- the larger
value gained from this 5-year legal battle."
And then there was this from: OTC PINK CURRENT 3Q 2016 MANAGEMENTS' DISCUSSION & ANALYSIS Published: Nov 15, 2016
"Although settlements of litigation typically have no winners, in this case the company benefitted through the receipt of a cash settlement
payment as well as licenses to pursue Johnson & Johnson’s test strip patents. "
I would appreciate any comments on this.
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