AstraZeneca Clears Ultomiris Overhang With Patent Settlement
The company will pay Chugai $775m to settle a patent dispute related to the complement 5 inhibitor Ultomiris, which it acquired from Alexion.
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The UK major’s CEO, Pascal Soriot, said the setting-up of a new R&D hub in Cambridge, MA, which will also serve as the new corporate headquarters for Alexion, is "a milestone moment" for the rare diseases unit.
AstraZeneca is touting Ultomiris’ future potential in neurological conditions as it struggles to convert patients from predecessor Soliris in one of its indications.
Some analysts are suggesting that AstraZeneca is getting hold of a "scarce and high-quality asset" in Alexion for a very reasonable price and shareholders could demand more than the $175 per share offer on the table.