UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 21, 2007
THE COOPER COMPANIES, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 1-8597 | 94-2657368 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
6140 Stoneridge Mall Road, Suite 590, Pleasanton, California 94588
(Address of principal executive offices)
(925) 460-3600
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| ITEM 8.01. | Other Events |
On November 21, 2007, the Company issued a press release to announce that it has reached a global settlement agreement with CIBA Vision, the eye care unit of Novartis AG, that resolves all disputes with respect to current patent infringement litigation between the companies. A copy of the press release is filed as Exhibit 99.1 to this Current Report and incorporated by reference herein.
Internet addresses in the release are for information purposes only and are not intended to be hyperlinks to other The Cooper Companies, Inc. information.
| ITEM 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press release dated November 21, 2007 | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| THE COOPER COMPANIES, INC. | ||
| By | /s/ Carol R. Kaufman | |
| Carol R. Kaufman | ||
| Senior Vice President of Legal Affairs, | ||
| Secretary and Chief Administrative Officer | ||
Dated: November 21, 2007
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Press release dated November 21, 2007 | |
Exhibit 99.1
 |
 | |
| NEWS RELEASE | 21062 Bake Parkway | |
| Lake Forest, CA 92630 | ||
| CONTACT: |
888-822-2660 | |
| Norris Battin |
Fax: 949-597-0662 | |
| The Cooper Companies, Inc. |
||
| ir@coopercompanies.com |
||
| FOR IMMEDIATE RELEASE |
||
COOPER SETTLES PATENT LITIGATION WITH CIBA VISION
PLEASANTON, Calif., November 21, 2007 – CooperVision, Inc., the contact lens unit of The Cooper Companies, Inc. (NYSE:COO), today announced that it has reached a global settlement agreement with CIBA Vision, the eye care unit of Novartis AG (NYSE: NVS), that resolves all disputes with respect to current patent infringement litigation between the companies.
CooperVision had alleged that CIBA Vision infringed patented technologies relating to the edge design and rotational stabilization of contact lenses while CIBA Vision alleged that CooperVision infringed patented technologies relating to silicone hydrogel contact lenses. Under the terms of the settlement, the companies have agreed to cross license rights to these patents, as well as certain other patent rights. This settlement includes CooperVision paying a royalty on its net U.S. contact lens sales of Biofinity® until 2014 and on net sales outside of the United States until 2016. Specific terms of the agreement are confidential.
Commenting on the settlement, Robert S. Weiss, Cooper’s chief executive officer said, “We are pleased with this agreement. It allows us to focus on meeting the needs of eye care professionals and consumers by eliminating the distraction of litigation.” Addressing the impact of the settlement on fiscal year 2008 earnings, Mr. Weiss stated, “We expect this settlement to be accretive in FY 2008 when comparing anticipated royalty payments versus the potential costs of continued litigation.”
Corporate Information
The Cooper Companies, Inc. (www.coopercos.com) manufactures and markets specialty healthcare products through its CooperVision and CooperSurgical units. Corporate offices are in Lake Forest and Pleasanton, Calif. A toll free interactive telephone system at 1-800-334-1986 provides stock quotes, recent press releases and financial data.
CooperVision (www.coopervision.com) manufactures and markets contact lenses. Headquartered in Pleasanton, Calif., it manufactures in Juana Diaz, Puerto Rico, Norfolk, Va., Rochester, N.Y., Adelaide, Australia, Hamble and Hampshire, England and Madrid, Spain.
CooperSurgical (www.coopersurgical.com) manufactures and markets diagnostic products, surgical instruments and accessories to the women’s healthcare market with headquarters and manufacturing facilities in Trumbull and Orange, Conn., and in Pasadena, Calif., Houston, Texas, Williston, Vt., Fort Atkinson, Wis., Montreal and Berlin.
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