Regeneron, Genentech settle litigation

January 11, 2012

Regeneron Pharmaceuticals Inc. has entered into a non-exclusive license and partial settlement agreement with Genentech Inc. relating to U.S. ophthalmic sales of aflibercept injection (Eylea, Genentech).

Tarrytown, NY-Regeneron Pharmaceuticals Inc. has entered into a non-exclusive license and partial settlement agreement with Genentech Inc. relating to U.S. ophthalmic sales of aflibercept injection (Eylea, Genentech).

Regeneron received a non-exclusive license to certain patents relating to vascular endothelial growth factor receptor proteins, known as the Davis-Smyth patents, and other technology patents. The Davis-Smyth patents are the subject of patent litigation between Regeneron and Genentech pending in the United States District Court, Southern District of New York. Patent litigation is continuing with respect to matters not covered by the agreement.

Under the terms of the agreement, Regeneron will make payments to Genentech based on U.S. sales of aflibercept injection through May 7, 2016. Regeneron will pay $60 million upon cumulative U.S. sales of aflibercept injections reaching $400 million. Regeneron also will pay royalties of 4.75% on cumulative U.S. sales of aflibercept injections between $400 million and $3 billion and 5.5% on any cumulative U.S. sales of aflibercept injections over $3 billion.

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