Pharmaceutical company Elan says it has settled legal action against a company called Abraxis Bioscience over a drug called Abraxane.
Elan started legal action against Abraxis, which was later acquired by US biopharmaceutical company Celgene, in 2006, alleging that it had infringed patents.
Under a settlement and licence agreement announced today, Celgene will pay Elan a once-off fee of $78m. The drug at the centre of the case is used to fight breast cancer.
Elan will not receive any additional payments for sales of Abraxane or any other related l product in the US or globally.
