Seeking Alpha

Celgene, Boston Children's Hospital in dispute over cancer drug payments

  • Boston Children's Hospital is seeking millions in unpaid royalties from Celgene (CELG), WSJ reports.
  • In a lawsuit filed last summer, the hospital claims the company violated a 2002 contract when it ceased paying royalties on Revlimid and Pomalyst — the hospital apparently helped discover their cancer fighting abilities.
  • The case is further complicated by the fact that the hospital sold most of its Revlimid rights to an unnamed third party for $130.5M.
  • In any event, an unfavorable ruling would likely cost CELG millions, as "court filings [show] Children's [believes] it is owed $3M in unpaid royalties for the first quarter alone."
From other sites
Comments (2)
  • hneumann
    , contributor
    Comments (632) | Send Message
    The reason for today's pullback ?
    6 Jan 2014, 12:59 PM Reply Like
  • marc heilweil
    , contributor
    Comments (159) | Send Message
    So far as I know the late great Dr. Judah Folkman had the insight that is the basis of anti-angiogenesis treatment to stymie growth of cancer cells. RIP
    6 Jan 2014, 07:44 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs