BioMarin Pharmaceutical Inc. shares advanced 5% on Friday after the company announced a global settlement with Ascendis Pharma A/S resolving patent disputes related to Ascendis’s drug Yuviwel.
Under the agreement, Ascendis will pay BioMarin a 20% royalty on net sales of Yuviwel in the U.S., retroactive to the first commercial sale. The royalty rate for sales in the European Union, Brazil, and South Korea is set at 18% of net sales through May 2030. The settlement also grants BioMarin a license to Ascendis’s patents for Yuviwel across all current and potential indications, including achondroplasia and hypochondroplasia, as well as its use in combination therapies.
The deal resolves multiple legal disputes between the companies. BioMarin will dismiss a pending Section 337 investigation before the U.S. International Trade Commission. All claims related to the asserted intellectual property will be dismissed, including ongoing litigation in Brazil, Denmark, Germany, South Korea, and the Northern District of California in the U.S.
The agreement acknowledges BioMarin’s contributions to C-type natriuretic peptide technology, including its development of VOXZOGO (vosoritide), a treatment for achondroplasia. Financial terms were not disclosed beyond the royalty structures outlined in the settlement.
BioMarin’s shares closed at $102.50 on Thursday, up 5% following the announcement.
