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TiVo Inc. (Nasdaq: TIVO) $9.57, DISH Network Corporation, and EchoStar Corporation announced today that they have settled all of their ongoing patent litigation.
Under the terms of the settlement, DISH Network and EchoStar agreed to pay TiVo $500 million, including an initial payment of $300 million with the remaining $200 million distributed in six equal annual installments between 2012 and 2017. TiVo, DISH Network and EchoStar agreed to dismiss all pending litigation between the companies with prejudice and to dissolve all injunctions against DISH Network and EchoStar.
The parties also granted certain patent licenses to each other. TiVo granted DISH Network a license under its Time Warp patent (US Pat. No. 6,233,389) and certain related patents, for the remaining life of those patents. TiVo also granted EchoStar a license under the same '389 patent and certain related patents, for the remaining life of those patents, to design and make certain DVR-enabled products solely for DISH Network and two international customers. EchoStar granted TiVo a license under certain DVR-related patents for TiVo-branded, co-branded and ingredient-branded products.
What They Do: TiVo Inc. developed the first commercially available digital video recorder (DVR). TiVo offers the TiVo service and TiVo DVRs directly to consumers and through third-party retailers.
Spectrum Pharmaceuticals (Nasdaq: SPPI) $9.00. Announced Friday after market close that it has received approval from the U.S. Food and Drug Administration (FDA) on April 29, 2011, for the use of FUSILEV (levoleucovorin) in combination with 5-fluorouracil in the palliative treatment of patients with advanced metastatic colorectal cancer. This new, expanded indication supplements the original 2008 FDA approval of FUSILEV.
“We are pleased that the FDA has approved FUSILEV for use in colorectal cancer,” said Rajesh C. Shrotriya, MD, Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals. “Although the NCCN Guidelines in the United States already recommend levoleucovorin in the treatment of colorectal cancer patients, we could not promote FUSILEV for this indication until now. We believe that the FDA approval of FUSILEV in the treatment of colorectal cancer could represent a significant growth catalyst for Spectrum. In the United States, more than 90% of its clinical use is for the treatment of patients with colorectal cancer. FUSILEV, under various trade names, has been available in Europe and Japan primarily by Wyeth, Sanofi-Aventis, and Takeda Pharmaceuticals. It is estimated that ex-U.S. sales of FUSILEV are in excess of $180 million a year.”
What They Do: Spectrum Pharmaceuticals is a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology.
Caliper Life Sciences (Nasdaq: CALP) $6.69. Today announced its financial results for the first quarter of 2011. First quarter revenue increased to $35.8 million, or 25%, from $28.7 million in the same period of 2010. This increase was principally driven by year-over-year 26% organic growth of comparable product, service and license revenues. Cambridge Research & Instrumentation, Inc. ("CRi"), which Caliper acquired in December 2010, contributed $2.6 million to first quarter 2011 revenues. This contribution was offset by a similar amount of revenue in the first quarter of 2010 from product lines that Caliper divested in May 2010.
Caliper reported a 2011 first quarter GAAP net loss of $2.6 million, or $0.05 per basic and diluted share, compared to a net loss of $2.2 million, or $0.04 per basic and diluted share, in the same period of 2010. Non-GAAP net income, which is adjusted for intangibles amortization, acquisition-related costs and restructuring charges, was $0.3 million in the first quarter of 2011, or $0.01 per diluted share, compared to a non-GAAP net loss of $0.9 million, or $0.02 per diluted share, in the same period of 2010.
What They Do: Caliper Life Sciences is a premier provider of cutting-edge technologies enabling researchers in the life sciences industry to create life-saving and enhancing medicines and diagnostic tests more quickly and efficiently.
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