University of South Florida Sues Elan Corporation PLC (ELN) for Breaching Patent Deal
8/15/2012 8:01:20 AM
Two years ago, the University of South Florida intervened in a rather complicated piece of litigation involving the Alzheimer’s Institute of America and several drugmakers, as well as the University of Pennsylvania, over the rights to various patents. At the time, the institute alleged that the drugmakers, which included Elan and Eli Lilly, were developing and using drugs for which fees were not being paid. And so did the University of South Florida. And so, one of the various lawsuits went to trial in Pennsylvania eariler this year and a jury determined that the University of South Florida did, indeed, hold various patent rights. To settle matters, the school and Elan reached a deal that called for the drugmaker to make a $175,000 payment (read this), but the school alleges Elan never made good and has indicated it has not plans to do so, according to a new lawsuit.