LAWSUITS NEWS & LEGAL INFORMATION
Drug Patent Infringement
This is a settlement for the Trademark, Copyright, Patent lawsuit.
New England, MA: (Apr-08-08) Repligen Corp., a biotech firm based in Waltham, brought a lawsuit against New York-based Bristol-Myers Squibb Co., alleging that the company infringed on its patents. The suit stated that Repligen has an exclusive license from the University of Michigan, to use Orencia to treat autoimmune diseases such as rheumatoid arthritis. Sources said that Bristol-Myers markets Orencia as a treatment for rheumatoid arthritis and is building a biologics plant in Devens, in part, to produce the drug. The facility is slated to begin production in 2011.
Sources on both sides stated that the two companies had reached a settlement agreement, in which the New York pharmaceutical firm will pay Repligen $5 million initially. Additionally, the firm will pay tiered royalties on the first $2 billion in sales of Orencia from 2008 through 2013. Company sources put that figure at a potential $117 million. Further, as per the terms of agreement, University of Michigan, which is a co-plaintiff along with Repligen, agreed to grant Bristol-Myers an exclusive license to certain patents related to Orencia and withdraw the 2-year old lawsuit. Repligen spokespersons said that the company expects revenue of $30 million from the Bristol-Myers settlement in its fiscal 2009, which began April 1, 08. [MHT BUSINESS JOURNAL: REPLIGEN SETTLES WITH BRISTOL-MEYERS; WORTH UP TO $117 M]
Published on Apr-9-08
Sources on both sides stated that the two companies had reached a settlement agreement, in which the New York pharmaceutical firm will pay Repligen $5 million initially. Additionally, the firm will pay tiered royalties on the first $2 billion in sales of Orencia from 2008 through 2013. Company sources put that figure at a potential $117 million. Further, as per the terms of agreement, University of Michigan, which is a co-plaintiff along with Repligen, agreed to grant Bristol-Myers an exclusive license to certain patents related to Orencia and withdraw the 2-year old lawsuit. Repligen spokespersons said that the company expects revenue of $30 million from the Bristol-Myers settlement in its fiscal 2009, which began April 1, 08. [
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