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Moderna to Pay $950 Million to Settle Patent Cases From Arbutus, Genevant
Moderna MRNA 15.99%increase; green up pointing triangle will pay $950 million to settle patent litigation by Arbutus Biopharma and Genevant Sciences GmbH.
The vaccine maker said Tuesday that, as part of the settlement agreement, it will appeal to a federal circuit court to argue that it has limited liability due to its status as a government contractor. If the company loses that appeal, it said, it agreed to make an additional payment of up to $1.3 billion within 90 days.
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