Genentech, Protein Design Labs Settle Patent Suits

Law360, New York (December 1, 2003, 12:00 AM EST) -- Genentech has agreed to pay Protein Design Labs Inc. royalties on three drugs that have been the subject of a patent dispute, the companies said on Monday.

Under the proposed agreement, which has not been finalized, Genentech would pay royalties, on the asthma drug Xolair, the psoriasis drug Raptiva and the experimental cancer drug Avastin, which is expected to be approved by the Food and Drug Administration early next year.

In exchange, Protein Design Labs would agree to lower royalty payments, and the parties would agree...
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