Merck KGaA Reverses EUR365 Million Provision for U.S. Lawsuit
30 September 2020 - 3:12AM
Dow Jones News
By Kim Richters
Merck KGaA said Tuesday that is reversing a 365 million euros
($425.8 million) provision for patent dispute proceedings in the
U.S.
The provision relates to a patent dispute of its subsidiary EMD
Serono Inc. with Biogen Inc. about Merck's product Rebif.
Merck said its decision comes after the U.S. Court of Appeals
for the Federal Circuit ruled in favor of the German
pharmaceutical-and-chemical company on Monday.
Merck added that it might book a provision of up to a mid- to
high-double-digit million amount and will adjust its outlook
accordingly.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
September 29, 2020 12:57 ET (16:57 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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