MRK

Merck & Company, Inc.

86.78
USD
-0.83%
86.78
USD
-0.83%
71.50 95.72
52 weeks
52 weeks

Mkt Cap 219.67B

Shares Out 2.53B

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Seagen loses arbitration against Daiichi Sankyo over drug technology

Aug 12 (Reuters) - U.S. drugmaker Seagen Inc SGEN.O said on Friday an arbitrator had ruled in favor of Japan's Daiichi Sankyo 4568.T over an agreement between the two companies for using its drug technology. The companies have been locked in a legal battle over patents on Daiichi and AstraZeneca Plc's AZN.L breast-cancer drug Enhertu, which Seagen says violates its patents. Seagen filed an arbitration demand in 2019, saying the technology used in Enhertu are improvements to its antibody-drug conjugate technology. The company, which was reported to be an acquisition target for Merck & Co Inc MRK.N, said the ownership of the technology was assigned to it under a 2008 agreement with Daiichi Sankyo. In the patent fight, a Texas jury had in April awarded Seagen nearly $42 million from Daiichi Sankyo. Shares of Seagen were down 2.4% at $169.89 in afternoon trading. (Reporting by Manas Mishra in Bengaluru; Editing by Arun Koyyur) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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