Anacor Settles With Valeant Related To All Outstanding Litigation - Quick Facts

(RTTNews) - Anacor Pharmaceuticals (ANAC) announced it has entered into a settlement agreement with Valeant Pharmaceuticals International, Inc. (VRX.TO, VRX) related to all outstanding litigation, including its arbitration with Valeant, successor in interest to Dow Pharmaceutical Sciences, Inc. and its ongoing dispute with Medicis Pharmaceutical Corporation (MRX), which was acquired by Valeant in December 2012.

On October 27, 2013, Anacor and Valeant agreed that Valeant would pay Anacor $142.5 million to settle all existing and future claims as well as the damages awarded in that arbitration as well as resolve its dispute with Medicis and all other disputes between Anacor, Valeant and DPS related to Anacor's intellectual property, confidential information and contractual rights.

Valeant has agreed to make payment to Anacor no later than November 8, 2013.