ParfumGigi@aol.com
10 décembre, 2007 13:27
ImClone, Sanofi Settle Yeda Patent Fight
Biotech company ImClone Systems Inc. and drug company Sanofi-Aventis have settled a patent dispute with Yeda Research and Development Company Ltd., ImClone said Friday.
ImClone and Paris-based Sanofi-Aventis will each pay Yeda $60 million in cash as part of the settlement.
The companies agreed that Yeda, the licensing arm of the Israel-based Weizman Institute of Science, would be the sole owner of a patent used in ImClone's cancer drug Erbitux in the U.S., while Yeda and Sanofi-Aventis would be co-owners of the patent's foreign counterparts.
ImClone will pay Yeda a single-digit royalty fee on all sales and a low single-digit royalty to Sanofi-Aventis on non-U.S. sales.
Shares of ImClone added 42 cents to $42.76 in afternoon trading.
