Eli Lilly Loses Patent Infringement Case
The pharmaceutical giant Eli Lilly has been ordered to pay a multi-million dollar patent lawsuit settlement to another pharmaceutical company. The federal judge hearing the case ruled in favor of the plaintiff, Ariad Pharmaceuticals, ordering Lilly to pay over $65 million in compensation.The case related to two of the drugs manufactured by Lilly, which were the osteoporosis drug Evista, and the septic shock drug Xigris. The settlement will go to Ariad Pharmaceuticals as well as three co-plaintiffs in the case. The settlement figure that Lily has been ordered to pay is based upon sales of the drugs from the time when the lawsuit was originally filed, which was 2002.
Harvey J. Berger, Ariad's chairman and chief executive officer, stated: "We are extremely pleased with the jury's verdict supporting our assertions regarding Lilly's infringement of our patent and its validity."
Massachusetts Institute of Technology, the Whitehead Institute for Biomedical Research and the president and fellows of Harvard College were the three co-plaintiffs involved in the case, suing along with Ariad Pharmaceuticals.
Topic Added May 3rd, 2006
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