AstraZeneca (AZN +5.7%) and AbbVie (ABBV -1.5%) have agreed to settle their tit-for-tat patent infringement complaints related to their respective kinase inhibitors Calquence (acalabrutinib) and Imbruvica (ibrutinib).
AbbVie's Pharmacyclics unit sued AZN in 2017 shortly after the FDA OK'd Calaquence for mantle cell lymphoma. AZN's Acerta unit retaliated with a suit of its own. Both claimed that the other's product infringed on certain of their patents.
Settlement terms remain confidential.
AZN is up after posting better-than expected Q3 results earlier today.
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