Where are Those Royalties? New York University Claims Pfizer Inc. (PFE) is a Deadbeat
10/23/2013 8:27:14 AM
In a bid to retrieve tens of millions of dollars over the next several years, New York University has filed a lawsuit against Pfizer, claiming the drugmaker failed to pay royalties on its Xalkori medication, which was approved two years ago by the FDA to treat non-small cell lung cancer along with a diagnostic kit. The dispute is the latest example of a spat over the proceeds from research that is generated by academia but is commercialized by a drugmaker under a development deal. In this instance, NYU claims that Pfizer did not honor an agreement that was inherited as part of its 2003 acquisition of Pharmacia.
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