Valeant Settles Glumetza Royalties Lawsuit for $13 Million

PDL Biopharma and Depomed announced they have settled a royalties-related lawsuit with Valeant.

Depomed filed the suit in September over alleged underpayment of royalties by Valeant in sales of the diabetes treatment Glumetza. The suit claimed Valeant owed more than $20 million.

Under the deal, reached last week, Valeant will pay $13 million to resolve the claims.