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Drug Manufacturer GSK Reaches a $1.2 Billion Patent Settlement

Drug giant GlaxoSmithKline earned two victories in the ongoing battle to treat AIDS, one involving a patent settlement and the other securing FDA approval for a longer-term HIV treatment from GSK-owned ViiV Healthcare.

First, the patent.

GSK (NYSE: GSK) disclosed Tuesday it had reached a patent settlement with rival Gilead in a dispute over technology used in an HIV drug. ViiV, GSK and ViiV part-owner Shionogi had charged Gilead’s HIV drug Biktarvy infringed ViiV patents.

Gilead agreed to pay a one-time fee of $1.25 billion in the first quarter of this year plus 3% royalties. The money will be divided among ViiV’s owners, which includes Pfizer.

Read the source article at WRAL TechWire

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