Wednesday, May 18, 2011

Incyte pays Genomic Health $800K to settle royalty claim

Diagnostic test maker Genomic Health Inc. won $800,000 from Incyte Corp. to settle a lawsuit in which it alleged Incyte received royalties that it should not have been paid.
Redwood City-based Genomic Health (NASDAQ: GHDX) initially sought in a July 2010 suit to recover nearly $3.6 million that it had paid to Incyte (NASDAQ: INCY) according to a 2001 deal.

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