Baxter International Inc., the world's largest maker of blood disease treatments, settled a lawsuit accusing Bayer Corp. and a former employee of stealing trade secrets about Baxter's products.
Terms of the agreement weren't disclosed. Baxter had claimed that Gopal Dasari, a former Baxter Healthcare Corp. scientist who joined Bayer in May, had copied files on Baxter's products for hemophilia, cancer and kidney disease.
Dasari was hired to work at Bayer's Berkeley facility, where the firm makes products that are competitive with Baxter's.
Baxter's shares fell 62 cents to $26.95 on the New York Stock Exchange. Bayer's U.S.-traded shares fell 5 cents to $21.59.