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Bristol-Myers Squibb Shares Plunge As Merck Rises on Cancer Drug News

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Merck will pay $625 million and royalties to settle Keytruda patent litigation with Bristol-Myers Squibb and Ono Pharma

Merck will pay $625 million and royalties to settle Keytruda patent litigation with Bristol-Myers Squibb and Ono Pharma*/

– Merck & Co. Inc. MRK, +3.65% will pay $625 million and royalties to Bristol-Myers Squibb Co. BMY, -11.28% and Ono Pharmaceutical Co. Ltd. to settle patent litigation over Merck’s cancer drug Keytruda, the companies said Friday afternoon.As part of the settlement all patent litigation will be dismissed, and the companies have granted certain patent rights to each other.Merck will pay royalties on global Keytruda sales of 6.5% between 2017 and the end of 2023 and 2.5% between 2024 and 2026, with the royalties being split 75/25 between Bristol-Myers and Ono.
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Bristol-Myers Squibb (BMY), Ono Enter Settlement and License Agreement with Merck (MRK) to Resolve PD-1 Antibody Patent Litigation

Bristol-Myers Squibb (BMY), Ono Enter Settlement and License Agreement with Merck (MRK) to Resolve PD-1 Antibody Patent Litigation*/

– Bristol-Myers Squibb Company (NYSE: BMY) and Ono Pharmaceutical Company, Ltd. today announced the companies have signed a global patent license agreement with Merck & Co., Inc. (NYSE: MRK) to settle all patent-infringement litigation related to Merck’s PD-1 antibody Keytruda (pembrolizumab).The agreement will result in the dismissal with prejudice of all patent litigation between the companies pertaining to Keytruda.Bristol-Myers Squibb and Ono, who discovered and developed the PD-1 antibody Opdivo (nivolumab), had asserted in litigation that Merck’s sale of Keytruda infringed the companies’ patents relating to the use of PD-1 antibodies to treat cancer in the U.S., Europe (United Kingdom, Netherlands, France, Germany, Ireland, Spain and Switzerland), Australia, and Japan.
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Bristol-Myers Squibb Shares Plunge As Merck Rises on Cancer Drug News

Bristol-Myers Squibb Shares Plunge As Merck Rises on Cancer Drug News*/

– Bristol-Myers Squibb ( bmy ) had an ugly start to the weekend, much to the benefit of rival Merck ( mrk ) .Shares of the pharma giant tanked as much as 11% during early afternoon trading – a loss of about $10 billion in market cap – while Merck gained 3.5%.The reason for the slump centers on the two drug makers’ competing cancer therapies: Bristol-Myers’ Opdivo and Merck’s Keytruda.
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AstraZeneca (AZN) MYSTIC Change Positive for Merck (MRK), Less so for Bristol-Myers Squibb (BMY)

AstraZeneca (AZN) MYSTIC Change Positive for Merck (MRK), Less so for Bristol-Myers Squibb (BMY)*/

– AstraZeneca (AZN) MYSTIC Change Positive for Merck (MRK), Less so for Bristol-Myers Squibb (BMY) – BMOBMO Capital analyst Alex Arfaei said AstraZeneca (NYSE: AZN) endpoint change for MYSTIC and the delay in IO combo data …To continue reading this article and more like it please sign-in or join today (FREE!)Member Login
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