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Alexion To Pay $10M To Settle Patent Lawsuit

Law360 (February 19, 2008, 12:00 AM EST) -- Alexion Pharmaceuticals Inc. has agreed to pay $10 million to the Oklahoma Medical Research Foundation to settle a patent dispute related to the drug Soliris.

Under the settlement, Alexion will pay $10 million in order to acquire all rights and interests to the patents at issue, making payments over the remainder of 2008 and 2009. The ongoing litigation will be dismissed.

Alexion's Soliris drug was approved by the FDA to treat a rare blood disorder, paroxysmal nocturnal humoglobinuria, or PNH, which strikes one in a million people and can lead to disability and a premature death.

The drug does not cure...

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