British drug major AstraZeneca PLC (AZN.L) announced Thursday that its Rare Disease unit Alexion has entered into a settlement agreement with Chugai Pharmaceutical Co., Ltd., resolving all patent disputes related to Ultomiris (ravulizumab).
Alexion and Chugai have taken steps to withdraw patent infringement proceedings filed with US District Court for the District of Delaware and Tokyo District Court.
Under the deal terms, Alexion will make a single payment of $775 million in the second quarter of 2022. The company will record a charge through the non-core P&L in the first quarter of 2022.
No further amounts are payable by either party. The settlement does not impact AstraZeneca's financial guidance for 2022.
Marc Dunoyer, Chief Executive Officer, Alexion, said, "With this settlement, we will continue to advance our Ultomiris development programmes in new indications and focus on our mission to transform the lives of people affected by rare diseases."
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