Biotech Companies Settle Royalties Lawsuit against Columbia University

Cambridge, Mass.-based biotechnology companies Genzyme Corp. and Biogen Idec Inc. have settled their lawsuit against Columbia University over the school's rights to royalties on drug-making research from the 1970s. Genzyme and Biogen Idec, which claimed that the university tried to illegally extend lucrative patents that had expired, said the agreement will allow them to continue selling drugs to treat multiple sclerosis and Gaucher disease based on Columbia-developed technology.

Originally by Law.com - Tech Law Practice Center, 12:28 PM