UMichigan/Repligen get $ from BMS in Orencia case

On the subject of universities suing commercial players for patent infringement, Repligen and the University of Michigan sued Bristol-Myers Squibb in federal court back in 2006, based on a patent owned by the University of Michigan and the U.S. Navy. In a settlement announced April 8, Bristol-Myers has agreed to pay royalties on net U.S. sales for Orencia at a rate of 1.8 percent for the first $500 million of annual sales, 2 percent for the next $500 million in annual U.S. sales and 4 percent of U.S. annual sales beyond $1 billion.