AstraZeneca settles patent dispute with Chugai Pharmaceutical
By Iain Gilbert
Date: Thursday 17 Mar 2022
(Sharecast News) - Drugmaker AstraZeneca's rare disease unit has entered into a settlement agreement with Chugai Pharmaceutical, resolving all patent disputes between the two companies related to long-acting C5 complement inhibitor, Ultomiris (ravulizumab).
In accordance with the settlement agreement, AZN's Alexion wing and Chugai have both taken steps to withdraw patent infringement proceedings filed in the US with the District Court of Delaware and in Japan with the Tokyo District Court.
Under the terms of the agreement, Alexion will make a single payment of $775.0m in the second quarter of 2022, for which a charge will be recognised through non-core profit and loss in the first quarter of 2022.
AZN added that no further amounts will be payable by either party and said the settlement did not impact the group's financial guidance for 2022.
Alexion chief executive Marc Dunoyer said on Thursday: "With this settlement, we will continue to advance our Ultomiris development programmes in new indications and focus on our mission to transform the lives of people affected by rare diseases."
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