By Chris Wack


Aurinia Pharmaceuticals Inc. shares were up 37% to $5.92 after the company said it has entered into a patent settlement agreement with Indian pharmaceutical companies Sun Pharmaceutical Industries Inc., Sun Pharmaceuticals Industries Ltd. and Sun Pharma Global FZE.

The Canadian pharmaceuticals company said the settlement involves filing a joint motion with Sun Pharmaceutical to terminate an inter partes review of an Aurinia patent, as well as to settle patent infringement litigation in the U.S. over Sun Pharamceutical's Cequa dry-eye treatment.

Under the settlement, which is contingent upon the U.S. Patent Trial and Appeal Board approving the joint motion, the parties have agreed to dismiss their claims and counterclaims and cease bringing any future further legal action against each other.

Aurinia shares hit their 52-week low of $4.07 last Wednesday, and are down 20% in the past three months.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

01-03-23 1146ET