NUTRITION 21, LLC ANNOUNCES THE SETTLEMENT OF A PATENT INFRINGEMENT LAWSUIT CONCERNING CHROMIUM PICOLINATE
PURCHASE, NEW YORK – March 10, 2014 – JDS Therapeutics, LLC and Nutrition 21, LLC (“Nutrition 21”) announced today that they have entered into a confidential settlement and license agreement with Pfizer, Inc., Wyeth LLC, and Wyeth Consumer Healthcare LLC (“Pfizer”).
The settlement ends a patent infringement lawsuit brought by Nutrition 21 against Pfizer in the Southern District of New York related to Pfizer’s use of chromium picolinate in their Centrum® brand line of products. The financial terms of the settlement are confidential, however, in conjunction with the settlement, Pfizer has agreed to license Nutrition 21’s patents. In addition, Pfizer has acknowledged the validity of Nutrition 21’s asserted patents. As a result, Pfizer’s Centrum® brand line of products may continue to use chromium picolinate.
Michael Satow, President and Chief Executive Officer of Nutrition 21, stated that, “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.” Nutrition 21 is represented by Stroock & Stroock & Lavan LLP. Pfizer is represented by Ropes & Gray LLP.
About Nutrition 21, LLC
Nutrition 21, a wholly owned subsidiary of JDS Therapeutics, is a leader in the nutritional supplement industry. The Company is a developer and marketer of efficacious, high-value, clinically substantiated ingredients for dietary supplements, medical foods and beverages, including Chromax® chromium picolinate and Nitrosigine. With many years of biotechnology and pharmaceutical experience, the Company’s scientific platform has created unique, patentable products that are safe and clinically effective. Rigorous preclinical and clinical trials are a key part of its product development strategy to ensure product safety and consumer trust.
Nutrition 21 currently holds over 100 domestic and international issued and pending patents for products. Many support unique claims associated with, among others, glucose metabolism, weight management, brain health, and cardiovascular health. For more information please visit: www.Nutrition21.com.
Nutrition 21, LLC
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