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News Breaks
February 3, 2014
07:12 EDTPDLI, RHHBYPDL BioPharma reaches agreement in litigation with Genentech and Roche
PDL BioPharma (PDLI) has entered into an agreement with Genentech and F. Hoffmann-La Roche (RHHBY) which resolves all outstanding legal disputes between the parties, including its Nevada litigation with Genentech and Roche and its arbitration proceedings with Genentech related to the audit of royalties on sales. Under the terms of the agreement, effective retroactively to August 15, 2013, Genentech will pay a fixed royalty rate of 2.125% on worldwide sales of Avastin, Herceptin, Lucentis Xolair, Kadcyla and Perjeta. Genentech will pay these royalties on all worldwide sales of Avastin, Herceptin, Xolair, Perjeta and Kadcyla occurring on or before December 31, 2015. With respect to Lucentis, Genentech will owe no royalties on U.S. sales occurring after June 30, and will pay a royalty of 2.125% on all ex-U.S. sales occurring on or before December 28, 2014. PDL expects to recognize royalty revenue on the licensed products until Q1 2016. Additionally, the settlement terms provide for a better definition of revenues and audit inspection procedures related to the arbitration dispute filed by PDL. The settlement and the related agreement are conditional upon entry of a proposed order dismissing the underlying litigation and dismissal of the AAA arbitration filed by PDL.
News For PDLI;RHHBY From The Last 14 Days
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October 24, 2014
12:03 EDTRHHBYRoche reports CHMP recommends label update for Esbriet
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October 21, 2014
07:15 EDTRHHBYFDA to hold workshop on breast cancer drug development
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October 20, 2014
12:37 EDTRHHBYOn The Fly: Midday Wrap
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07:19 EDTRHHBYIBC Life Sciences to hold a conference
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07:11 EDTRHHBYAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
07:10 EDTRHHBYAmerican Society of Human Genetics to hold annual meeting
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07:06 EDTRHHBYNewLink announces worldwide license agreement for NLG919 development
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07:04 EDTRHHBYRoche approval would be positive for TESARO, says Jefferies
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October 16, 2014
14:47 EDTRHHBYRoche in pact with Pharmacyclics to evaluate Imbruvica, Gazyva combo
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13:13 EDTRHHBYRoche considers submitting Ebola test for emergency use approval, WSJ says
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09:35 EDTRHHBYDiplomat announces contract to distribute Esbriet
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05:58 EDTRHHBYRoche sees FY14 core EPS targeted to grow ahead of sales
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05:56 EDTRHHBYRoche reports 9 month revenue CHF34.76B vs. CHF34.87B last year
Roche CEO Severin Schwan said: “Demand for our products is strong in both divisions and we are well on track to reach our full-year targets. We have had positive news from our product pipeline, including study results for Perjeta in breast cancer and a new combination therapy with Zelboraf in melanoma. The InterMune acquisition has also strengthened our portfolio with a new medicine, Esbriet for idiopathic pulmonary fibrosis, which has now been approved by the FDA. In Diagnostics, growth continues to be driven by the immunodiagnostics business and we have strengthened our molecular diagnostics portfolio with a new generation of testing systems.”
October 15, 2014
15:45 EDTRHHBYFDA approves Esbriet to treat idiopathic pulmonary fibrosis
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October 14, 2014
11:23 EDTRHHBYBIND Therapeutics and The Conference Forum hold a conference
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