BRIEF—Ono and BMS settle over lawsuits on PD-L1 and CTLA-4 antibody patents with AstraZeneca

Japan’s Ono Pharmaceutical and US pharms major Bristol Myers Squibb have signed an agreement with the UK’s AstraZeneca and its subsidiary MedImmune and certain of their affiliates to completely and globally settle the infringement lawsuits and disputes over the PD-L1 and CTLA-4 antibody patents owned by Ono and BMS.

As a result, Ono said it will receive approximately $140 million in total of this settlement.

Ono’s shares were up1.7% at 2,685 yen on the news.

The impact on the consolidated financial results of Fiscal Year 2023 ending March 2024 will be disclosed at the announcement of financial results of the second quarter for Fiscal Year 2023 ending September 2023, said Ono.