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Biotech / Medical : Incyte (INCY)
INCY 97.00-1.7%3:59 PM EST
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To: nigel bates who wrote (1651)1/11/2001 10:15:56 AM
From: opalapril  Read Replies (1) of 3202
 
Although the settlement terms are not known with certainty, and one should not rely on press releases, it is intriguing that INCY says, "Under the settlement, the lawsuits will be dismissed and Gene Logic will have a non-exclusive license to practice the technology described in these patents."

In the ordinary course of events like this, one normally would expect such a settlement to provide for cross-licensing -- and for the company to publicly disclose that material term -- if there was anything at all to Gene Logic's presumed defense that it developed the technology independently. Unless such a defense was neither raised nor credible. In such a case, Gene Logic may more or less have accepted their financial responsibility to pay for INCY's technology which they were using.
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