Shares of medical device maker Synergetics USA, Inc. (Nasdaq: SURG) were up as much as 72 percent today after the company said Alcon Laboratories Inc (ACL.N) agreed to pay $32 million for the right to sell some of Synergetics’ products worldwide and to settle all pending litigation between the two companies.

Synergetics will receive between $2.5 million and $3.0 million in proceeds from the transactions once all inventory transfers are completed.

For the quarter ended Jan. 31, Synergetics profit more than doubled to $877,000, or 4 cents per share, from $389,000, or 2 cents per share, in the same period a year earlier. Second quarter revenue slipped to $13 million from $13.7 million due to lower sales neurosurgical products

The company reduced its sales and marketing costs by about $900,000, and trimmed its general and administrative and research and development spending.

Shares of Synergetics have been up as much as 139 percent over the past three months.