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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 28, 2014
11:14 EDTRHHBYRoche unit announces collaboration pact with ImmunoGen
Ventana Medical Systems, a member of the Roche Group (RHHBY), announced it has entered into an agreement with ImmunoGen (IMGN) to collaborate on the development of biomarker assays and a companion diagnostic immunohistochemistry test for one or more of ImmunoGen's product candidates. Under this agreement, the companies have created an initial test for folate receptor alpha, or FRa, that is being used in early trials of IMGN853, ImmunoGen's FRa-targeting antibody-drug conjugate.
October 27, 2014
20:54 EDTRHHBYLeerink's major pharma analyst holds an analyst/industry conference call
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07:20 EDTRHHBYAmerican Association of Blood Banks to hold annual meeting
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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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