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Biotech Companies Settle Lawsuit Against Columbia Over Lucrative Licensing Deals

Law360 (August 11, 2005, 12:00 AM EDT) -- Biotechnology companies Genzyme Corp. and Biogen Idec Inc. have settled a lawsuit against Columbia University over patents that have raised $600 million in royalties for the university.

The companies said the settlement will let them continue to sell their drugs to treat multiple sclerosis and Gaucher disease based on a technology developed at Columbia in the 1970s.

Neither of the parties involved would provide financial details.

The lawsuit was brought by Amgen Inc., Biogen Idec Inc., Genentech Inc., Johnson & Johnson, Genzyme Corp. and Wyeth Pharmaceuticals....
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