Nektar wins $90M verdict against Eli Lilly in contract dispute

Nektar Therapeutics (NASDAQ: NKTR) obtained a $90 million jury verdict against Eli Lilly and Company (NYSE: LLY) in a lawsuit stemming from a licensing agreement tied to the development and commercialization of rezpegaldesleukin, according to a company statement.

The jury in the U.S. District Court for the Northern District of California returned the verdict on September 24, 2026, finding that Lilly breached the implied covenant of good faith and fair dealing under the license agreement that governed the two companies' prior collaboration. Additional interest will be determined by the court.

Nektar filed the complaint in August 2023, alleging breach of contract and breach of the implied covenant of good faith and fair dealing. The trial began September 8, 2026, in the case styled Nektar Therapeutics v. Eli Lilly & Co., Case No. 3:23-cv-03943-JD.

The verdict remains subject to post-trial proceedings, and any resulting judgment may be subject to appeal.

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