9/11/2007

ImClone Systems has decided to settle its patent infringement case with Repligen Corp. and co-plaintiff Massachusetts Institute of Technology for $65 million. Repligen, which has an exclusive license from the patent holder, MIT, sued ImClone alleging violation of its patent rights in the manufacture and sale of ImClone's drug Erbitux. Repligen anticipates $40 million in net proceeds from the settlement and will provide ImClone with a nonexclusive sublicense to certain patent rights.

Full Story:
CNNMoney

Related Summaries