Valeant Settles With Anacor for $142.5 Million

By Justin Loiseau – Oct 28, 2013 at 5:39PM

TSX: BHC

Bausch Health Companies Inc

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An extra $42.5 million on top of previous announcement.

Valeant Pharmaceuticals International (BHC 0.35%) (BHC 0.60%) and Anacor Pharmaceuticals (NASDAQ: ANAC) have reached a final $142.5 million settlement to put a series of spats to rest, including allegations of intellectual property infringement, shared confidential information, and broken contracts.

Anacor had previously announced a $100 million settlement from Valeant for issues originating from its newly acquired subsidiary Dow Pharmaceutical Sciences, but this latest announcement also includes settlement for dispute over a research and development pact with Valeant business unit Medicis Pharmaceutical.

Valeant's and Anacor's press releases both struck similarly formal tones with no comments from management, although Anacor's delved into more detail on individual issues dating back to 2004.

Valeant has agreed to pay Anacor its settlement no later than Nov. 8.

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