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Article: Amgen, Genentech Legal War Ends With Payout Settlement.
- Article from:
- BIOWORLD Today
- Article date:
- August 29, 2003
- Author:
CopyrightCOPYRIGHT 2003 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Randall Osborne, National Editor
Laying to rest a patent fight that dates back to 1996, Amgen Inc. is making an undisclosed, one-time payment to Genentech Inc. as part of a settlement reached between the two firms.
"It's not surprising," said Matthew Geller, analyst with CIBC World Markets in New York, who estimated the amount due Genentech at $150 million.
Intellectual property, Geller noted, "can be worth a lot of money. Even a strong legal group like Amgen's realizes you can't flout patents." He said he expects "limited" long-term impact on the companies, and CIBC maintains an "outperform" rating on both.
The lawsuit by ...