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GSK and CureVac secure $740m payout in mRNA patent settlement
(Sharecast News) - Drugmaker GSK said on Friday that it had reached a settlement, alongside CureVac, to resolve long-running patent litigation with BioNTech and Pfizer over mRNA-based COVID-19 vaccines. The agreement, which includes a substantial upfront payment of $370m and future royalties, marks a significant step in monetising GSK's intellectual property portfolio.
Under the terms of the deal, CureVac and GSK will receive a combined $740m from BioNTech and Pfizer, along with single-digit royalties on future US sales of Covid-19 vaccines. CureVac will also receive an additional $50m from GSK for monetising part of its royalty stream under an existing licensing agreement.
GSK highlighted that the settlement includes a non-exclusive licence for BioNTech and Pfizer to manufacture and sell mRNA-based Covid-19 and influenza products in the US, which will expand globally following the completion of BioNTech's acquisition of CureVac.
GSK added that all pending litigation in the US has been dismissed, with a framework in place to resolve disputes elsewhere.
Reporting by Iain Gilbert at Sharecast.com
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