Cellegy Pharmaceuticals Announces Settlement of PDI Litigation

Cellegy Pharmaceuticals announced that it has entered into a settlement agreement with PDI, Inc. resolving the lawsuits that the companies had filed against each other relating to an exclusive license agreement for Cellegy's Fortigel (testosterone gel) product candidate in North American markets. The trial was scheduled to begin in May. The settlement agreement will result in the return of all product rights to Cellegy, payment of certain amounts over time to PDI, and the dismissal of all pending litigation.

BioSpace

(http://www.biospace.com/news_story.cfm?StoryID=19654920&full=1)