BioMarin Shares Rise After Reaching Patent Settlement with Ascendis
On August 31, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) saw its stock increase by 5% following a global patent settlement agreement with Ascendis Pharma A/S (NASDAQ:ASND). The dispute centered around intellectual property related to achondroplasia treatments and had been litigated in multiple jurisdictions including the US International Trade Commission. As part of the resolution, BioMarin will receive royalties from Yuviwel's sales until May 2030. Under the terms of the settlement, Ascendis agreed to pay a royalty equaling 20% of Yuviwel’s net sales in the U.S., and 18% for sales in the EU, Brazil, and South Korea. In return, BioMarin granted Ascendis a non-exclusive license for navepegritide, allowing continued development and commercialization without restrictions. Both companies expressed satisfaction with the outcome. BioMarin emphasized its long-term innovation strategy while Ascendis highlighted Yuviwel’s medical value in addressing unmet needs.
Topics: intellectual_property pharmaceuticals stock_movement