Hung Trinh, Senior VP of Operations at Seneca Therapeutics and CMC/MFG Consultant and Managing Director at Vertex Biopharm Consulting, shared a post on LinkedIn:
“Moderna to pay up to $2.25B to end mRNA vaccine patent fight
It seems to be the best solution, come on right time avoiding a ‘worst-case scenario,’
Announced days before a trial, the deal settles a longstanding dispute and avoids what one analyst called a ‘worst-case scenario’ financially for Moderna.
Dive Brief:
Moderna has agreed to pay up to $2.25 billion to Arbutus Biopharma and Roivant subsidiary Genevant Sciences in a settlement that ends a longstanding legal dispute over technology used in its mRNA vaccines.
In a statement Tuesday, Moderna said it will make an upfront payment of $950 million in the third quarter of this year while appealing another $1.3 billion in possible payouts to a federal circuit court. Moderna won’t have to pay future royalties on sales of its mRNA vaccines following the initial lump sum payment.
The settlement comes just days before the scheduled start of a jury trial in Delaware and leaves Moderna liable for far less than the roughly $5 billion Arbutus and Genevant had been seeking. Moderna shares rose 9% in early trading Wednesday.”
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