TARRYTOWN, N.Y. and MINNEAPOLIS, Dec. 7 /PRNewswire/ -- Bayer Corporation
and Chronimed, Inc. (Nasdaq: CHMD) of Minneapolis, MN, jointly announced today
the settlement of their patent litigation in the Federal District Court in
Minneapolis concerning urine test strips. Chronimed filed suit against Bayer
on March 5, 1999 seeking a declaration that certain Bayer patents were invalid
and not infringed by Chronimed's DIASCREEN(R) urine test strips. Bayer, on
behalf of its Diagnostics Division, countersued charging Chronimed with
infringement of the Bayer patents. Such patents relate to Bayer's
MULTISTIX(R) line of urine test strips, and specifically the test on the
strips that detects white blood cells (leukocytes).
Under the settlement, Bayer's leukocyte patents remain in force and each
party will continue to market its own product. Chronimed's test strip
includes a redesign of its initial leukocyte test. Chronimed has applied for
patent protection for its leukocyte test product.
Bayer Diagnostics
With more than 7,500 employees worldwide and 1999 sales of close to
$1.8 billion, Bayer Diagnostics (http://www.bayerdiag.com), based in Tarrytown,
New York, USA, is one of the largest diagnostics businesses in the world. The
organization supports customers in 100 countries through an extensive
portfolio of central laboratory, self-testing, nucleic acid, point of care and
critical care diagnostics systems and services for use in the assessment and
management of health, including the areas of cardiovascular disease, oncology,
virology, women's health and diabetes. Bayer Diagnostics is part of the
worldwide Bayer Group, a $29 billion international life sciences, polymers and
specialty chemicals group based in Leverkusen, Germany. Bayer Diagnostics'
global headquarters in the United States operates as part of Bayer Corporation
of Pittsburgh, a research-based company with major businesses in health care,
life science and chemicals.
Chronimed
Chronimed is an integrated healthcare company also specializing in
pharmacy services and disease management for people with chronic health
conditions. In addition to the development, manufacture, and marketing of
diagnostics products, Chronimed (http://www.chronimed.com) distributes
pharmaceuticals and provides specialized patient management services
nationwide for people with long-term chronic conditions such as HIV/AIDS,
diabetes, organ transplants, and diseases treated with injectable medications.
Chronimed works directly with patients, providers, and payors to improve
clinical and cost-of-care outcomes.
As a cautionary note to investors with respect to Chronimed, certain
matters discussed in this press release are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. Such
matters involve risks and uncertainties that may cause actual results to
differ materially, including the following: changes in economic conditions;
general competitive factors; Chronimed's ability to execute its service and
product sales plans; changes in the status of managed care contracts; and the
risks described from time to time in its SEC reports.
SOURCE Bayer Corporation
 back to top
Related links:
http://www.bayerus.com
Company News On-Call:
http://www.prnewswire.com/comp/092575.html or fax,
800-758-5804, ext. 092575
CONTACT:
Andrea Scibelli Johnston of Bayer,
914-524-2406
|
