financetom
Business
financetom
/
Business
/
BioNTech enters settlement with US agency, UPenn over COVID vaccine royalties
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
BioNTech enters settlement with US agency, UPenn over COVID vaccine royalties
Dec 27, 2024 5:14 AM

Dec 27 (Reuters) - BioNTech has entered into

two separate settlement agreements with the U.S. National

Institutes of Health and the University of Pennyslvania over the

payment of royalties related to its COVID-19 vaccine, the

company said in filings on Friday.

The German company, which partners with U.S. pharma giant

Pfizer ( PFE ) for its COVID-19 vaccine, said it would pay

$791.5 million to the U.S. agency under the agreement.

BioNTech has taken the license for certain patents from

the NIH, among other entities, due to which the U.S. government

is owed certain royalty payments.

Separately, the company will pay $467 million to the

University of Pennyslvania, which will dismiss a lawsuit brought

against the vaccine maker accusing it of underpaying royalties.

Penn's lawsuit said that BioNTech received a sublicense

to the school's technology through another company in 2017,

which it later used to develop the vaccine, Comirnaty, with

Pfizer ( PFE ).

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved