Roivant Announces Genevant Sciences’ and Arbutus Biopharma’s $2.25 Billion Global Settlement With Moderna
View original at finance.yahoo.comRoivant Announces Genevant Sciences’ and Arbutus Biopharma’s $2.25 Billion Global Settlement With Moderna Roivant Sciences Moderna to pay Genevant and Arbutus $950 million upfront and an additional $1.3 billion contingent upon a favorable resolution of Moderna’s Section 1498 appeal If the $1.3 billion payment is realiz…
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Comirnaty sales represent approximately 2/3 of global COVID vaccine sales
80% confidenceOutcome speaks to fundamental role that Genevant's foundational LNP technology played in enabling world's response to COVID-19 pandemic
80% confidenceModerna has finally acknowledged the seminal work of Arbutus scientists in enabling COVID-19 vaccines
80% confidenceSettlement allows Genevant to put lengthy dispute behind them and remain focused on leveraging world-class nucleic acid delivery systems to bring innovative medicines to people
80% confidenceIt is gratifying for Genevant team to be recognized for pivotal contribution to restoring normalcy during COVID-19 pandemic
80% confidenceResolution with Moderna reduces uncertainty, validates Genevant IP estate and provides near term significant cash inflow
80% confidenceRoivant will continue to be capital efficient with settlement proceeds, with additional $500 million authorized for share repurchases
80% confidenceThis is a transformative outcome for Arbutus and long-overdue recognition that COVID-19 vaccines would never have made it to the world without the seminal work of Arbutus scientists
80% confidenceArbutus scientists invented LNP delivery technology that changed the drug development landscape and enabled nucleic acids including mRNA to be used for medicines
80% confidenceSection 1498 applies such that U.S. taxpayers should assume liability for Moderna's infringement of Genevant's and Arbutus' patents for sales made under government contracts
80% confidenceIf the $1.3 billion payment is realized, this settlement will be the largest disclosed patent settlement paid in the pharmaceutical industry and the second largest in any industry
80% confidence