PURCHASE, N.Y.—JDS Therapeutics, LLC and Nutrition 21, LLC on Monday announced a confidential settlement and license agreement with Pfizer, Inc., Wyeth LLC, and Wyeth Consumer Healthcare LLC.
The agreement resolves a patent infringement lawsuit that JDS Therapeutics' wholly-owned subsidiary Nutrition 21 filed against Pfizer concerning Pfizer's use of chromium picolinate in its line of Centrum products, according to a press release.
Under the settlement, the financial terms of which are confidential, Pfizer agreed to license Nutrition 21's patents and acknowledge their validity, JDS Therapeutics and Nutrition 21 said.
“We are delighted that we were able to reach an amicable resolution to our dispute with Pfizer. This reaffirms the strength of Nutrition 21’s patent portfolio which covers compositions and uses of a number of our products, including our Chromax chromium picolinate," said Michael Satow, president and CEO of Nutrition 21, a developer and marketer of ingredients for dietary supplements, medical foods and beverages, in a statement.
Sally Beatty, a spokesperson for Pfizer, confirmed the lawsuit was settled "on terms not material to our company."