Merck and J&J Settle Rights Dispute
Merck and Johnson & Johnson have finally reached a settlement in their dispute over the distribution rights for Remicade and Simponi.
Nearly two years after the requested arbitration, pharma giants Merck and Johnson & Johnson have finally inked a settlement in their dispute over the distribution rights for Remicade and Simponi.
According to the agreement, Merck will give up marketing rights to both drugs in Canada, Central and South America, the Middle East, Asia and Asia Pacific territories. Those markets represented 30% of Merck's Remicade and Simponi revenues. The company will retain exclusive rights in Europe, Russia and Turkey. Merck's total revenues from the two drugs in 2010 was $2.8 billion, of which the relinquished territories accounted for approximately $850 million.
In addition, all profits
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