Mitsubishi Tanabe stands up to Novartis in royalty row
Mitsubishi Tanabe Pharma (TYO: 4508) is not backing down in a royalty dispute with pharma giant Novartis (NOVN: VX).
The dispute relates to an out-licensing agreement signed with Novartis in September 1997, during the Japanese drugmaker’s days under the name Yoshitomi.
Novartis was granted worldwide development and Japanese co-development rights and well as a marketing license to FTY720 (fingolimod hydrochloride), a drug mostly used for treating multiple sclerosis that is commonly marketed under the brand name Gilenya.
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