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Regeneron Announces Settlement of Patent Litigation with Genentech

05-Jan-2012 | Source : | Visits : 8136
TARRYTOWN, NY - Regeneron Pharmaceuticals Inc. announced in a press release that the Company has entered into a non-exclusive license and partial settlement agreement (Agreement) with Genentech Inc., a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY) relating to US ophthalmic sales of EYLEA™ (aflibercept) Injection.

Regeneron received a non-exclusive license to certain patents relating to VEGF receptor proteins, known as the Davis-Smyth patents, and other technology patents. The Davis-Smyth patents are the subject of patent litigation between Regeneron and Genentech now pending in the United States District Court, Southern District of New York. Patent litigation is continuing with respect to matters not covered by the Agreement.

Under the terms of the Agreement, Regeneron will make payments to Genentech based on US sales of EYLEA through May 7, 2016. Regeneron will pay $60 million upon cumulative US sales of EYLEA reaching $400 million. Regeneron will also pay royalties of 4.75% on cumulative US sales of EYLEA between $400 million and $3 billion and 5.5% on any cumulative US sales of EYLEA over $3 billion.

Regeneron is a fully integrated biopharmaceutical company that discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions.

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