Biocon inks patent litigation settlement pact with Celgene

PTI Updated - September 08, 2021 at 03:17 PM.

Biocon shares were trading 0.45% up on BSE

Signage for Biocon Ltd. is displayed at the company's campus in Bengaluru, India, on Wednesday, Nov. 16, 2016. This year Biocon's stock has rallied almost 80 percent with the best return among shares of generic drugmakers worldwide, after one of the company’s copies of a top-selling biologic drug had its first breakthrough in a developed market. Photographer: Dhiraj Singh/Bloomberg

Biotechnology major Biocon on Wednesday said it has entered into a settlement with Celgene Corporation regarding patents for Revlimid, a medication used to treat bone marrow cancer.

The company along with its subsidiaries has entered into a confidential settlement agreement with Celgene Corporation, a wholly-owned subsidiary of Bristol Myers Squibb, relating to patents for Revlimid (lenalidomide), the Bengaluru-based company said in a regulatory filing.

It did not share details of the agreement.

Celgene had filed a complaint in the US, against Biocon for potential patent infringement.

Biocon shares were trading 0.45 per cent up at ₹358.30 apiece on BSE.

Published on September 8, 2021 09:47