After repeated setbacks on the checkpoint front, Bristol-Myers scores a $625M payout from Merck to settle patent fracas
Bristol-Myers Squibb may keep losing to Keytruda on key franchise initiatives, but at least now it can share in Merck’s good fortunes. Bristol-Myers and Ono have agreed to set aside their patent dispute over the PD-1 checkpoint drug in exchange for $625 million in cash and a 6.5% royalty on sales for the next six years.
Then, after 2023, the two companies will take a 2.5% cut of the action for the following three years. Bristol-Myers gets 75% of the action and Ono takes home 25%.
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