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| NPSP > SEC Filings for NPSP > Form 8-K on 22-May-2009 | All Recent SEC Filings |
22-May-2009
Other Events
On May 20, 2009, Teva Pharmaceutical Industries Ltd. and Teva Pharmaceuticals USA, Inc. (collectively "Teva") filed a lawsuit against Amgen, Inc. ("Amgen") alleging patent infringement by Amgen of Teva's U.S. Patent No. 7,449,603. Pursuant to the license agreement between Amgen and NPS Pharmaceuticals, Inc. ("NPS"), Amgen may reserve up to fifty percent of the royalties otherwise payable by Amgen with respect to the affected compound in the country in question until the proceedings are concluded. If Teva's patent is determined to be uninfringed, unenforceable or invalid, Amgen is required to promptly pay any reserved royalties to NPS. If Teva's patent is held to be valid and infringed, or if Amgen enters into a settlement of Teva's infringement claim, then Amgen may deduct any damages or settlement amount with respect to such claim from the reserved royalties prior to payment of any remaining amount. In the event any damages and/or settlement amounts exceed the amount of reserved royalties, Amgen could withhold such excess from its future royalty obligation in that country.
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