Amgen and Genentech settle patent dispute
Amgen Inc. announced that the Company has settled its patent litigation with Genentech, Inc. in the U.S. District Court for the Northern District of California. In that suit, Genentech alleged that Amgen's process for producing Neupogen® and Neulasta®, drugs developed by Amgen to decrease the incidence of infection during many types of cancer-related chemotherapy, infringed certain Genentech patents.
Under the settlement agreement, both parties agreed to dismiss their claims and counterclaims against each other. The settlement includes a one-time payment to Genentech. Amgen is not taking a license under any Genentech patents.
Financial terms of the settlement were not disclosed. Amgen expects the financial impact of the settlement to be less than $0.05 per share on a GAAP basis and this non-recurring charge will be recorded in the third quarter.
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