Array BioPharma Inc. is seeking at least $192 million from AstraZeneca PLC for an alleged breach of their licensing agreement involving the cancer drug selumetinib, Reuters reported.
Boulder, Colo.-based Array BioPharma licensed the drug in 2003, providing U.K.-based AstraZeneca the option to sublicense it for a 12% royalty on sums from sub-licensees.
According to the lawsuit filed in the New York State Supreme Court in Manhattan, AstraZeneca has refused to pay the required royalty now that the medicine is sub-licensed to Merck & Co. Inc. as part of a broader $8.5 billion collaboration to study cancer drug combinations.
