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Thursday, Mar 28, 2024

Amgen Nabs Cancer Drug Patent

Amgen Inc. on Tuesday was granted licensing rights to a patent used in the cancer drug Erbitux. The acquisition came after a U.S. District Court judge in New York sided with Yeda Research and Development Co., which claimed that its researchers had figured out how to deliver Erbitux. New York-based drug maker ImClone Systems Inc. had been using the patent to produce Erbitux. The ruling gave Yeda, the commercial arm of the Israel-based Weizmann Institute of Science, sole ownership of the patent. The decision opened the door for Amgen, based in Thousand Oaks, to step in and obtain the license. It is the latest in a series of setbacks for ImClone, which in 2003 saw its founder, Sam Waksal, convicted for insider trading. ImClone plans to appeal the case, the company said Tuesday.

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