BeiGene and BMS-Celgene Reach Settlement and Terminate Commercialization Agreements for Three Established Products

On August 2, BeOne Medicines issued an announcement titled "Update on Arbitration," with the full text as follows:

As previously disclosed, since June 2020, BeOne Medicines has been in arbitration with Celgene Logistics Sàrl (SUN KEI LOGISTICS COMPANY LIMITED, now part of Bristol-Myers Squibb Company) at the International Chamber of Commerce regarding ABRAXANE® (nab-paclitaxel).

On August 1, 2023, BeOne Medicines and its wholly-owned subsidiary BeiGene Switzerland GmbH entered into a Settlement and Termination Agreement (the "Agreement") with Bristol-Myers Squibb, Celgene Corporation, Celgene Switzerland LLC, Celgene Kappa Holdings LLC, Celgene Holdings East Corporation, and SUN KEI LOGISTICS COMPANY LIMITED (collectively referred to as "BMS-Celgene"). The Agreement addresses the termination of ongoing contractual relationships, settlement and waiver of claims in arbitration, and mutual release of claims arising from or related to the License and Supply Agreement (the "License and Supply Agreement"), the Amended and Restated Quality Agreement (the "Quality Agreement"), the Share Subscription Agreement (the "Share Subscription Agreement"), as well as other disputes and potential disputes between the parties.

According to the agreement, both parties agreed to jointly withdraw the arbitration, and BMS-Celgene agreed to transfer to BeOne Medicines Ltd. 23,273,108 ordinary shares of the company purchased in 2017, subject to the terms and conditions of the agreement in each case and meeting several closing conditions. According to the agreement, BeOne Medicines Ltd. has no payment obligation for the transferred shares. In addition, both parties agreed to terminate the license and supply agreement and quality agreement on December 31, 2023, but the company has the right to continue selling all inventory of Revlimid® and Vidaza® until sold out or December 31, 2024 (whichever comes first).

The agreement provides that the parties settle and mutually release claims and potential claims arising from or related to the arbitration, license and supply agreements, quality agreements, and share subscription agreements, as well as other disputes and potential disputes between the parties. Each case shall comply with the terms and conditions of the agreement and meet several closing conditions.

PharmaCube Pro

New Targets, New Technologies, New Therapies

Media Cooperation: 15895423126

Copyright © 2023 PHARMCUBE. All Rights Reserved.

Welcome to forward, share, and reasonably cite. When citing, please clearly indicate the source of the article in a prominent position; if you need to reprint, please leave a message to the WeChat Official Account backend or send a message, and include the name and ID of the official account.

Disclaimer: The information in this WeChat article is for general reference only and cannot be directly used as decision-making content. PharmaCube assumes no responsibility for any loss incurred by any party due to the use of the content herein.