Celgene Strikes $78M Deal In Elan Abraxane IP Suit

Law360, New York (February 24, 2011, 10:18 PM EST) -- Elan Pharma International Ltd. and Celgene Corp. announced a $78 million settlement Thursday that ends four years of litigation over breast cancer drug Abraxane, which allegedly infringed two patents held by Elan.

Under the terms of the settlement, Celgene, which owns the drug's maker Abraxis BioScience Inc., will pay Elan a one-time fee of $78 million. Elan will not receive any additional payments for sales of Abraxane or any other products with its active ingredient paclitaxel in the U.S. or globally, according to the companies....
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