Novartis to pay $19M settlement to Acambis
UK-based vaccine developer Acambis says Swiss drug major Novartis has agreed to pay $19.0 million in cash to settle a dispute relating to the Arilvax yellow fever vaccine. The dispute arose under a 1999 agreement between the UK firm and the non-performance of a partner company that was subsequently acquired by Novartis.
Under the terms of the settlement, Novartis will pay the sum this year, and has granted Acambis an exclusive option to license worldwide rights to the agent.
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