Beckman Coulter and Quidel have reached a settlement agreement to resolve an ongoing legal dispute which started in November 2017 after the latter’s acquisition of the BNP Business from Alere.
As part of the settlement, Quidel will transition the BNP business to Beckman Coulter and continue to supply the antibody that is used in the manufacture of the B-type Natriuretic Peptide (BNP) assay to Beckman Coulter.
The company will also receive $70m to $75m cash payments per year from Beckman Coulter through to 2029.
Quidel president and CEO Douglas Bryant said: “The transactions resolve ongoing litigation that began shortly after Quidel purchased the BNP Business from Alere in October 2017.
“Entry into the agreements enable us to focus on expanding our core businesses and executing on our longer-term strategy while also creating a stable cash flow stream for the remainder of the term of the existing BNP supply agreement.
“For Quidel, the mission of democratising the benefits of diagnostic testing for infectious disease, heart health and other conditions at diverse points-of-care is our main priority and expected to continue to drive growth for our business.”
Under the terms of the agreement, the company will continue manufacturing and supplying Beckman Coulter with certain components which are related to the BNP assay.
Now, Beckman Coulter will manufacture and sell the assay, which is currently sold as ‘TRIAGE BNP’ by Quidel, under the brand name Access BNP.
As per the terms of a master agreement, Quidel will stop offering the Quidel BNP Assay, and Beckman Coulter will offer its own branded BNP assay to the market.
Additionally, Beckman Coulter will receive exclusive rights to distribute the Quidel branded BNP assay in certain countries, before introducing its own branded BNP assay to the market.
Recently, Quidel received CE mark for its Savanna multiplex molecular analyser and Savanna RVP4 Assay (Respiratory Viral Panel-4).