Tags: biontech | u.s. national institutes of health | university of pennsylvania

BioNTech to Pay US, UPenn $1.3B in COVID Vaccine Royalties

biontech sign on a building
BioNTech headquarters in Berlin (Sean Gallup/Getty Images)

Friday, 27 December 2024 08:27 AM EST

BioNTech has entered into two separate settlement agreements with the U.S. National Institutes of Health and the University of Pennsylvania over the payment of royalties related to its COVID-19 vaccine, the company said in filings Friday.

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

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
BioNTech has entered into two separate settlement agreements with the U.S. National Institutes of Health and the University of Pennsylvania over the payment of royalties related to its COVID-19 vaccine, the company said in filings Friday.
biontech, u.s. national institutes of health, university of pennsylvania
143
2024-27-27
Friday, 27 December 2024 08:27 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved