AstraZeneca Overturns $107.5 Million Verdict in Patent Dispute with Pfizer

Aug 14, 2024, 07:00 PM

AstraZeneca has successfully overturned a jury verdict that required the company to pay $107.5 million for infringing cancer-drug patents owned by Wyeth, a subsidiary of Pfizer. The decision was made by a federal judge in Delaware, marking a significant legal victory for AstraZeneca. Pfizer, which acquired Wyeth in 2009, initially filed the lawsuit against AstraZeneca in 2021. This outcome is seen as a milestone decision for UK companies, particularly for AstraZeneca's CEO Pascal Soriot and the shareholders who supported his vision.