PDL Biopharma settles keytruda patent infringement lawsuit with Merck
Seeking Alpha
Published Apr 24, 2017 08:12AM ET
PDL Biopharma settles keytruda patent infringement lawsuit with Merck
- PDL BioPharma (NASDAQ:PDLI) announces that it has entered into a settlement agreement with certain subsidiaries of Merck (NYSE:MRK) to resolve their patent infringement lawsuit related to Keytruda (pembrolizumab).
- Under the terms of the agreement, Merck will pay PDLI $19.5M in exchange for a fully paid-up, royalty free, non-exclusive license to certain patent rights related to Keytruda while PDLI has agreed not to sue Merck for royalties. Both parties have agreed to dismiss all claims related to the litigation.
- PDLI is up 4% premarket on light volume.
- Now read: Merck Leads Rivals In Novel Drug Approvals
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