BioNTech enters settlement with US National Institutes of Health, University of Pennsylvania
Written By : Ruchika Sharma
Medically Reviewed By : Dr. Kamal Kant Kohli
Published On 2024-12-29 04:30 GMT | Update On 2025-04-25 12:14 GMT
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Bengaluru: German biotechnology company BioNTech has reached two separate settlement agreements with the U.S. National Institutes of Health (NIH) and the University of Pennsylvania (Penn) regarding royalty payments related to its COVID-19 vaccine, according to recent filings.
BioNTech, which collaborated with U.S. pharmaceutical giant Pfizer for the vaccine, said on Friday that it would pay $791.5 million to the U.S. agency to resolve a default notice.
Separately, the company will pay $467 million to the University of Pennsylvania (Penn), which has agreed to dismiss a lawsuit brought against the vaccine maker accusing it of underpaying royalties.
According to Reuters, BioNTech said partner Pfizer will reimburse it for up to $170 million of the royalties payable to Penn and $364.5 million of the royalties paid to the National Institutes of Health (NIH)for 2020-2023 vaccine sales.
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