Acambis to receive $19 million in Arilvax settlement

By Elaine Rigoli

Tampa, Fla., Sept. 12 - Novartis AG will pay Acambis plc $19 million in cash to settle a dispute related to the Arilvax yellow fever vaccine.

In addition, Novartis has granted Acambis an exclusive option to negotiate a license to the worldwide rights to the Arilvax product from Novartis.

The dispute arose under an agreement that had been established in 1999 and was due to non-performance by predecessor companies acquired by Novartis.

Acambis, a Cambridge, England-based vaccine developer, had U.S. sales rights to the vaccine and had previously completed phase 3 clinical trials with a view to applying for U.S. licensure.

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