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ImClone, Sanofi settle Yeda patent fight

December 10, 2007
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Biotech company ImClone Systems Inc. and drug company Sanofi-Aventis have settled a patent dispute with Yeda Research and Development Company Ltd., the Associated Press reports. ImClone and Paris-based Sanofi-Aventis will each pay Yeda $60 million in cash as part of the settlement. The companies agreed that Yeda, the licensing arm of the Israel-based Weizman Institute of Science, would be the sole owner of a patent used in ImClone''s cancer drug Erbitux in the U.S., while Yeda and Sanofi-Aventis would be co-owners of the patent''s foreign counterparts. ImClone will pay Yeda a single-digit royalty fee on all sales and a low single-digit royalty to Sanofi-Aventis on non-U.S. sales.

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