PDL To Pay MedImmune $93M In IP Suit Over Synagis

Law360, New York (February 16, 2011, 8:44 PM EST) -- PDL BioPharma Inc. said Wednesday it had agreed to pay MedImmune LLC $92.5 million to settle a patent lawsuit over MedImmune's respiratory treatment Synagis, in the wake of a January ruling invalidating a PDL antibody patent at the center of the dispute.

PDL, a California-based biotechnology company, agreed to pay $65 million to MedImmune immediately and pay another $27.5 million one year from now, settling a suit in the U.S. District Court for the Northern District of California. In return, MedImmune, a unit of AstraZeneca PLC,...
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