GSK set to get $500 million from settlement of mRNA lawsuit
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
CureVac NV has settled a long-running patent dispute over mRNA vaccines with Pfizer and BioNTech SE in the US, which will see CureVac's former collaborator GSK receive as much as $500 million and 1% of royalties from future vaccine sales.The settlement comes as BioNTech looks to close the purchase of its former rival CureVac for about $1.25 billion. GSK will receive $370 million upfront, with another $130 million on the closing of the acquisition.In the wake of the race to develop Covid-19 vaccines, drugmakers launched multiple lawsuits against one another over alleged patent infringement. The litigation has spanned across Europe and the US, pitting rival vaccine manufacturers against one another in the courts.GSK worked with CureVac to develop Covid-19 vaccines but they failed, losing out to quicker, nimbler rivals. Last year, the two companies restructured their collaboration, with GSK paying CureVac up to $1.4 billion for the full rights to mRNA flu and Covid-19 vaccines it was developing with the German biotech.GSK will also receive 1% on royalties of future Pfizer-BioNTech sales of flu, Covid-19 and related combination mRNA vaccines in the US. Once BioNTech completes the purchase of CureVac, GSK will also receive 1% of royalties from future sales outside the US.While the settlement ends CureVac's litigation with Pfizer and BioNTech, it doesn't mean the same for GSK. The British drugmaker said it will continue its litigation against BioNTech and Pfizer for what it alleges is infringement of its patents.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Air India widebody fleet upgrade delayed again, likely to be done by October 2028
NEW DELHI: Air India's upgrade of its legacy widebody fleet has been delayed again. The airline now hopes to complete the task by October 2028, about a year longer than the five-year plan announced earlier. Supply chain constraints since Covid have delayed Tata's $400 million fleet retrofit programme for "delivering a world class flying experience and enhancing operational reliability across its legacy fleet". The airline said it had finally started the upgrade programme for its legacy widebody fleet with the Boeing 787 Dreamliner. The work is now expected to finish by October 2028, "with the timeline having shifted due to supply chain delays". In its last few cash-starved state-owned years, Air India had no funds for cabin maintenance or upkeep, and poor in-flight experience on those planes remains among the biggest irritants for passengers on long-haul routes on which these aircraft are deployed. "Air India has commenced the widebody retrofit programme for its legacy B787-8 aircraft, with the first of 26 aircraft (VT-ANT) having flown to a Boeing facility in Victorville, California, in July. A second aircraft is scheduled to depart for the same facility in Oct, with both expected to return to service in December. Retrofit programme for Air India's B787-8s, now on a steady schedule for completion by mid-2027, will introduce brand-new interiors featuring a three-class configuration," the airline said in a statement. Starting early 2027, the airline will additionally retrofit 13 of its legacy Boeing 777-300ER aircraft, aiming for completion by Oct 2028, with the timeline having shifted due to supply chain delays. As part of a reliability enhancement programme, Air India said it would upgrade the avionics and other critical components of the 26 legacy B787-8 aircraft. "This is intended to reduce operational disruptions." Additionally, seven of the 26 B787-8s will undergo heavy, scheduled maintenance (D-checks) in Victorville. The airline said the retrofit programme for 27 legacy narrowbody A320neo aircraft commenced last Sept. It is "progressing per schedule".
Time of India
3 hours ago
- Time of India
Covid-era teleconferences back as hosps struggle with viral load
Kolkata: Several hospitals have gone back to the Covid-time practice of teleconferencing for patient consultations while others have revived their home-care services and reactivated fever clinics to handle the spike in patient load that has continued since early July. Tired of too many ads? go ad free now In the wake of a surge in viral and bacterial infections across the city, which has seen hospital occupancy touch 85%-90%, a hospital on E M Bypass has set up fever clinics at local complexes to ensure early treatment and prevent hospitalisation. BP Poddar Hospital has reintroduced e-consultations and fever clinics that made their debut during Covid. Forty-seven patients received virtual consultations in a week while nine are under home care. "This has helped ease the bed crunch to some extent, reducing demand by 10%-12%. This also ensures that critical patients receive prompt care and recover under expert supervision without the stress of hospitalisation," said Supriyo Chakrabarty, group advisor, BP Poddar Hospital. At Charnock Hospital, teleconsultations are "an integral part of services now". "Home care, on the other hand, offers a seamless continuation of professional care outside the hospital, and we are actively counselling suitable inpatients to opt for this service. Currently, we are running at 70% occupancy and have scope to admit more," said Rupali Basu, group CEO, Charnock Hospital. Desun Hospital has set up a 'neighbourhood connect team' or 'on-site fever clinic' to reach out to patients in the vicinity. "We are actively taking doctors to nearby complexes and residential areas in the evenings and weekends," said Sajal Dutta, chairman & MD, Desun Hospital. Manipal Hospitals, running at 85% of its capacity at present, has revived teleconsultation and home care services too. Tired of too many ads? go ad free now These platforms are helping patients, especially those from the districts or those requiring follow-up care, access specialists remotely, said Ayanabh Debgupta, regional COO, Manipal Hospitals (East). At RN Tagore Hospital (RTIICS), video consultations are being offered to patients, including senior citizens, to ensure they get preferential services without having to get admitted or visit the OPD. "Occupancy is 85% but our operational processes are beefed up to ensure faster discharges and admissions with no waiting period," said R Venkatesh, COO (East) of Narayana Hospitals. Woodlands Hospital, running at full occupancy, is counselling select admitted patients about continuing treatment at home under the care of a competent home-care team. "This helps us optimise bed availability for those who need hospitalisation the most. Fever patients are being thoroughly assessed, and admissions are being recommended only when clinically essential," said Rupak Barua, managing director & CEO.
The Hindu
4 hours ago
- The Hindu
India to triple satellites its three years: ISRO chairman
Indian Space Research Organisation Chairman said India will increase the number of satellites in orbit three times from the present 56 in three years. Speaking at the 21st convocation of SRM Institute of Science and Technology, he said 'By 2040, India will match all developed countries in terms of all capabilities of the space programme. In 1963, a tiny rocket was donated by the USA and we launched it. That was the beginning of the Indian space programme. Last week, we launched the NISAR satellite, the costliest satellite ever built in the world. It was placed in orbit precisely by an Indian launcher,' he said. 'In another couple of months, we are going to launch a 6500 kg communication satellite built by the U.S.A. using our own launcher. A country which did not have satellite technology 50 years back, we have launched 433 satellites from 34 countries using our launch vehicle,' he said. Maharashtra Governor stressed the need for contribution in technology innovation by graduates from the country by learning another foreign language other than English, including French and German. 'We cannot manage with English in Germany. We cannot manage with English in France. Learning a language will give you a lot of advantages.' SRM Institute of Science and Technology Founder Chancellor presided over the convocation. Secretary, Union Ministry of Earth Sciences, said India will put in place an earthquake early warning system in 2047. He stressed the need for contribution from engineering graduates to explore new horizons in aspects such as weather management and take measures to increase the ocean's contribution to GDP from 4%, doubling the contribution to shipping, energy from the ocean, food from the ocean, water from the ocean, health from the ocean and climate change mitigation in a sustainable manner.
