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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