Roche's Genentech sues Biogen over additional patent royalties from Tysabri sales
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- Genentech, a unit of Roche (OTCQX:RHHBY), has filed suit in federal court against Biogen (NASDAQ:BIIB) claiming the latter owes additional patent royalties related to sales of multiple sclerosis and Crohn's disease treatment Tysabri (natalizumab).
- Genentech contends that Biogen (BIIB) owes royalties for Tysabri it produced before the patents expired, even if the drug was sold after the expiration.
- Biogen hasbn't paid any royalties on Tysabri since the patents in question lapsed four years ago, Genentech alleges.
- Genentech licensed the patents to Biogen (BIIB) in exchange for a "mid-single-figure" royalty on sales in the US, Reuters reported.
- Read why Seeking Alpha contributor Deep Value Ideas views Roche (OTCQX:RHHBF) as a buy.