Biocon inks patent litigation settlement pact with Celgene

Biotechnology major Biocon on Wednesday said it has entered into a settlement with Celgene Corporation regarding patents for Revlimid, a medication used to treat bone marrow cancer.

The company along with its subsidiaries has entered into a confidential settlement agreement with Celgene Corporation, a wholly-owned subsidiary of Bristol Myers Squibb, relating to patents for Revlimid (lenalidomide), the Bengaluru-based company said in a regulatory filing.

It did not share details of the agreement.

Celgene had filed a complaint in the US, against Biocon for potential patent infringement. Biocon shares were trading 0.45 per cent up at Rs 358.30 apiece on BSE.