ImClone Settles Patent Row With Yeda, Sanofi

Law360, New York (December 7, 2007, 12:00 AM EST) -- Biotech company ImClone Systems Inc. has inked a settlement agreement with Yeda Research and Development Company Ltd. and Sanofi-Aventis, putting to rest a patent dispute related to the cancer drug Erbitux, ImClone said Friday.

Under the deal, ImClone and Sanofi-Aventis have agreed to each pay $60 million to Yeda Research to end worldwide litigation over the patent at issue. Cases were pending in numerous jurisdictions.

As part of the settlement, the Israeli firm Yeda is named the sole owner in the United States of the patent...
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