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Biotech / Medical : Cambridge Antibody Technology Group -- Ignore unavailable to you. Want to Upgrade?

To: keokalani'nui who wrote (414)	10/14/2003 3:25:15 PM
From: keokalani'nui	Read Replies (2) \| Respond to of 625

BREEACH!!!! Cambridge Antibody Technology Receives First Payment of HUMIRA(R) Royalties From Abbott Laboratories Tuesday October 14, 10:48 am ET CAMBRIDGE, England, Oct. 14 /PRNewswire-FirstCall/ -- Cambridge Antibody Technology (Nasdaq: CATG - News; LSE: CAT - News) today announces that it has received the first payment of royalties on sales of HUMIRA® from Abbott Laboratories. The payment represents Abbott's calculation of the royalties due to CAT on HUMIRA sales in the six month period ended 30 June 2003. In March 2003 CAT announced that it was in potential dispute with Abbott over the level of royalties payable in respect of HUMIRA. This related to the applicability of certain royalty offset provisions in the licence agreement, dated 1 April 1995, between Cambridge Antibody Technology Limited and Knoll Aktiengesellschaft (subsequently acquired by Abbott Laboratories). In making this payment to CAT, Abbott has sought to offset royalties payable to other licensors against the payment to CAT and has paid royalties at the minimum level described in the licence agreement. CAT strongly believes Abbott's interpretation of the agreement is incorrect. CAT is seeking an outcome consistent with its position. CAT and Abbott have now commenced a formal dispute resolution procedure. A further announcement will be made when appropriate.