Four companies, two disputed patents, two multimillion-dollar settlements.
Repligen and Bristol-Myers Squibb buried the hatchet over Orencia, the rheumatoid arthritis treatment that's been subject to a patent dispute between the two companies. Bristol-Myers will pay $5 million plus royalties on U.S. net sales of Orencia to settle the disagreement. Repligen expects its first years' receipts from BMS to be around $30 million.
Meanwhile, Depomed will get about $10 million in payments and royalties in settlement of a patent infringement case against Ivax Corp. and its parent company, Teva Pharmaceuticals. The drug in question was the diabetes treatment Glucophage XR.
NICE snubs Orencia, picks 3 rivals. Report
Regulatory panel gives BMS' Orencia unanimous approval. Report