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Wednesday, April 18, 2007
Massachusetts General Hospital will receive $213 million from a private company for foreign rights to future royalties from the rheumatoid arthritis drug Enbrel.
The sale of rights to Drug Royalty Corporation Inc. follows a settlement of a patent dispute last year with Enbrel's manufacturer, Amgen Inc. That deal yielded $186 million in a one-time payment for Mass General. The hospital's researcher, Brian Seed, made key protein engineering discoveries that were integral to Enbrel's early development.
Mass. General chief executive Dr. Peter Slavin said today that the $399 million payment total, plus previous sales royalties, make Enbrel the biggest generator of licensing revenue in the hospital's history. ``Lightning occassionally strikes in this area,'' Slavin said.
(By Christopher Rowland, Globe staff)
Posted by Boston Globe Business Team at 02:36 PM
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