In both Europe and in the US, patent settlement agreements belong to the most discussed areas at the interface of patent law and competition /antitrust law. The debate is particularly fierce with regard to so-called "pay-for-delay" arrangements where an originator company effectively pays a generic company to delay entry into the market as part of settling alleged patent infringements. In the US, the Supreme Court rendered its decision in FTC v. Actavis on June 17th, 2013 and provided new guidance in this highly relevant area of law. This presentation will explain the context, procedural history and legal outcome of this case and discuss its practical implications. The presentation will also refer to corresponding recent case law developments from Europe.