Abbvie gains on resolving arthritis drug litigation in U.S.

Hanall Biopharma

09/03/2022 14:03

** Shares of drugmaker  ABBV.N  rise as much as 1.7% to
$149.58 premarket - set to snap two consecutive sessions of
losses, if gains hold 
    ** ABBV late on Tuesday said it has resolved all litigation
with biopharma co Alvotech related to its arthritis drug Humira
 urn:newsml:reuters.com:*:nPn1g9DHTa 
    ** Under terms, ABBV will not make any payments to Alvotech
and grant co license to Humira-related patents in U.S. starting
July 1, 2023
    ** Alvotech, which is merging with Oaktree Acquisition Corp
OACB.N> to go public, says will pay royalties to ABBV for its
patents
    ** Resolution includes dismissal of patent litigation
between ABBV and Alvotech, which the latter filed in May 2021
 urn:newsml:reuters.com:*:nBw2zphD2a
    ** Up to Tuesday's close, ABBV up ~9% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))