09:51 AM EST - Nordion Inc. : has reached an agreement to settle claims filed against Nordion and its subsidiaries by BioAxone BioSciences, Inc. for a nominal amount. The parties are finalizing the settlement documents, which are expected to be confidential. During fiscal 2012, Nordion was served with a complaint relating to the Company’s former MDS Pharma Services business. This legal action, commenced by BioAxone in Florida, related to the preparation and qualification of a Bacterial Master Cell Bank relating to the development of a biologic drug. BioAxone further alleged that it had suffered damages in an amount greater than $90 million U.S. Nordion Inc.
shares T.NDN are trading unchanged at $8.81.
