Biogen pays it Forward in $1.25B deal

Forward Pharma A/S (NASDAQ:FWP) gained $8.85 (48%) to $27.20 after it said it will receive $1.25 billion from Biogen Inc. (NASDAQ:BIIB) as part of a licensing and settlement agreement related to the companies' patent dispute. Biogen said the deal will "clarify and strengthen" its IP protection for multiple sclerosis drug Tecfidera dimethyl fumarate.

The deal does not resolve existing patent litigation between the companies concerning use of a dimethyl fumarate formulation to treat MS. Forward said it will grant Biogen co-exclusive U.S. rights, and exclusive worldwide rights, to IP related to dimethyl fumarate. If certain legal conditions are met, the U.S. rights may convert to an exclusive license...