ASRT~~MONSTA 8K Item 1.01 Entry into a Material Definitive Agreement
On August 28, 2018, Assertio Therapeutics, Inc., a Delaware corporation (the “ Company ”), and each of Purdue Pharma L.P., a Delaware limited partnership, The P.F. Laboratories, Inc. a New Jersey corporation, and Purdue Pharmaceuticals L.P., a Delaware limited partnership (collectively, “ Purdue ”), entered into a Settlement Agreement with respect to the Company’s lawsuit against Purdue Pharma L.P for patent infringement filed in January 2013 in the U.S. District Court for the District of New Jersey. The lawsuit arose from Purdue’s commercialization of reformulated OxyContin® (oxycodone hydrochloride controlled-release) in the U.S. and alleged infringement of U.S. Patent Nos. 6,340,475 and 6,635,280, which expired in September 2016.
Pursuant to the Settlement Agreement: (i) Purdue will pay the Company $30 million on August 28, 2018 and will pay the Company an additional $32 million on February 1, 2019; (ii) each party covenanted not to the sue the other with regard to any alleged infringement of such party’s patents or patent rights as a result of the commercialization of the other party’s current product portfolio; (iii) each party covenanted not to challenge the other party’s patents or patent rights covering such other party’s current product portfolio; and (iv) each party agreed to a mutual release of claims relating to any claim or potential claim relating to the other party’s current product portfolio.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ASSERTIO THERAPEUTICS, INC.
Date: August 28, 2018
By:
/s/ Amar Murugan
Amar Murugan
Senior Vice President and General Counsel
AI
