BioMarin Pharmaceutical's stock climbed 5% on Monday after the company reached a patent settlement with Ascendis Pharma, resolving a long-standing dispute over the Danish biotech's Yuviwel drug.
Under the agreement, BioMarin will receive a 20% royalty on Yuviwel's net sales in the U.S., retroactive to the drug's first commercial sale. In the European Union, Brazil, and South Korea, BioMarin will receive an 18% royalty on net sales through May 2030. The settlement also grants BioMarin a license to its C-type natriuretic peptide technology, including the development of VOXZOGO (vosoritide), for all current and potential indications such as achondroplasia and hypochondroplasia, as well as its use in combination therapies.
The dispute had led to litigation across multiple jurisdictions, including Brazil, Denmark, Germany, South Korea, and the Northern District of California. As part of the resolution, BioMarin will dismiss a pending Section 337 investigation before the U.S. International Trade Commission, while Ascendis will pay royalties on future sales in the specified regions. The agreement covers all asserted intellectual property claims between the parties.
