BioNTech to pay $791.5M in settlement agreement with the NIH [View all]

Source: Yahoo! Finance

Sat, December 28, 2024 at 9:35 AM EST


In a regulatory filing, BioNTech (BNTX) said, “BioNTech previously disclosed that it was in discussions with the National Institutes of Health concerning royalties and other related amounts allegedly owed on sales of the Company’s, and its collaboration partner, Pfizer’s (PFE) COVID-19 vaccine since commercialization.

On December 20, 2024, the Company entered into a settlement agreement with the NIH.

Under the terms of the Settlement Agreement, the Company will, among other things, pay $791.5M, consisting of $750M as a settlement for claimed royalties during calendar years 2020-2023 and $41.5M in consideration for the NIH’s entry into an Amended and Restated License Agreement, dated December 20, 2024 to the NIH within 60 days of December 20, 2024.

The Company’s execution of the Settlement Agreement does not in any way constitute an admission of liability with respect to any allegation raised by the NIH, all of which the Company expressly denies, and nothing in the Settlement Agreement shall be taken as or construed to be an admission by the Company as evidence supporting any such allegation, any matter of fact or law, any violation of law or any other liability whatsoever.

Read more: https://finance.yahoo.com/news/biontech-pay-791-5m-settlement-143507298.html