Celgene Settles Patent Royalty Case for $198.5 Million

Celgene will pay $198.5 million to settle a case alleging the company failed to pay royalties on patents covering the multiple myeloma drugs Revlimid and Pomalyst/Imnovid.

The settlement grants Celgene a royalty-free license to certain patent protections on the drugs and includes provisions for contingent royalties and other payments — although the company does not expect these payments will be triggered.

The deal resolves a 2013 lawsuit accusing Celgene of not paying royalties after the biotech firm received an extension on the patents for Revlimid and Pomalyst/Imnovid.