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Expert Analysis

3rd Circ. Ruling Shows Benefits Of IP Licenses In Bankruptcy

By Gregory Hesse and Kaleb Bailey (August 5, 2024, 1:58 PM EDT) -- In its April In re: Mallinckrodt PLC decision, the U.S. Court of Appeals for the Third Circuit held that Mallinckrodt could discharge its obligation to pay future royalties to Sanofi-Aventis US LLC, a drug developer that sold "the rights to the drug outright" to Mallinckrodt for $100,000 up front and a promise to pay a one percent royalty on all net sales over $10 million a year in perpetuity.[1]...

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