Biogen to Pay Schering Up to $250 Million
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Biogen Inc. will pay German drug maker Schering as much as $250 million to settle a patent dispute over multiple sclerosis medicines.
The U.S. biotechnology company will pay Schering’s Berlex unit $20 million initially. If a U.S. appeals court rules that Biogen infringed Berlex’s patents, the company will hand over as much as $230 million more to Berlex and its partners as a licensing fee, a Schering spokesman said.
Biogen said fourth-quarter profit fell 18% because of the settlement costs.
Schering shares rose 10 cents to $56.15 on the New York Stock Exchange. Shares of Cambridge, Mass.-based Biogen rose 57 cents to close at $54.40, also on the NYSE.
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