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Home»Finance»BioNTech enters settlement with US agency, UPenn over COVID vaccine royalties
Finance

BioNTech enters settlement with US agency, UPenn over COVID vaccine royalties

December 27, 2024No Comments1 Min Read
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BioNTech enters settlement with US agency, UPenn over COVID vaccine royalties
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(Reuters) – BioNTech has entered into two separate settlement agreements with the U.S. Nationwide Institutes of Well being and the College of Pennyslvania over the cost of royalties associated to its COVID-19 vaccine, the corporate stated in filings on Friday.

The German firm, which companions with U.S. pharma large Pfizer for its COVID-19 vaccine, stated it will pay $791.5 million to the U.S. company below the settlement.

BioNTech has taken the license for sure patents from the NIH, amongst different entities, on account of which the U.S. authorities is owed sure royalty funds.

Individually, the corporate can pay $467 million to the College of Pennyslvania, which is able to dismiss a lawsuit introduced towards the vaccine maker accusing it of underpaying royalties.

Penn’s lawsuit stated that BioNTech obtained a sublicense to the varsity’s expertise by means of one other firm in 2017, which it later used to develop the vaccine, Comirnaty, with Pfizer.

(Reporting by Bhanvi Satija and Sneha S Okay in Bengaluru; Enhancing by Anil D’Silva)

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agency BioNTech Covid enters Royalties Settlement UPenn vaccine
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