Illumina settles with Affymetrix for $90M
San Diego, USA-based gene analysis specialist Illumina has agreed to pay more than $90.0 million to Affymetrix to resolve a long-running patent dispute. Previously, Affymetrix had contended that Illumina was in breach of six of its patents, while Illumina countersued on antitrust and unfair competition grounds.
As part of the settlement, both firms will drop their claims, with Affymetrix agreeing not to file any similar suits related to the disputed products for the next four years. The news saw Illumina's share price increase 16% to $70.02 as the markets responded to the lower-than-expected payout.
In contrast, Affymetrix' share price fell 5%, or $1.14, to close at $22.62, with Deutsche Bank's Ross Muken lowering his price target for the firm to $27 from $30.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze