BioMarin announces global settlement with Ascendis
US biotech BioMarin Pharmaceutical (Nasdaq: BMRN) revealed that it has entered into binding terms with Danish firm Ascendis Pharma (Nasdaq: ASND) resolving the patent and ancillary disputes pending globally, including before the US International Trade Commission (ITC) concerning Ascendis' Yuviwel (navepegritide).
As part of the agreement, Ascendis will pay BioMarin a royalty equal to 20% of net sales of Yuviwel in the USA, retroactive to the first commercial sale, and 18% of net sales in the European Union, Brazil and South Korea until May 2030.
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