Genentech (DNA) Announces Patent Litigation Settlement with MedImmune
Genentech, Inc. (NYSE: DNA) has settled its patent litigation with MedImmune, Inc. involving the Cabilly patent, which is co-owned by Genentech and City of Hope and relates in part to methods of producing antibodies.
Under the terms of the settlement agreement, the litigation, which was pending before the U.S. District Court for the Central District of California, has now been fully resolved and dismissed. The settlement resolves disputed issues with respect to MedImmune's marketed product Synagis(R) (palivizumab) as well as a related product (motavizumab) for which MedImmune is seeking regulatory approval. The settlement also permits MedImmune to obtain licenses for certain additional pipeline products under the Cabilly patent family.
Financial terms of the settlement were not disclosed. In connection with this settlement and the associated licenses, Genentech is not updating its forecasted royalty revenue.
Genentech, Inc. (Genentech) is a biotechnology company that discovers, develops, manufactures and commercializes pharmaceutical products to treat patients with unmet medical needs. [SM]
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