Gilead shares surge after $62M Tamiflu settlement

Shares of Gilead Science surged to a 52-week high in early trading this morning after it announced that Roche would pay $62.5 million in adjusted royalties for Tamiflu, the antiviral drug governments around the globe are clamoring for to help protect people from a possible bird flu pandemic. Gilead licensed the drug to Roche in 1996. Last June, Gilead triggered the dispute when it claimed that Roche has neglected to market the drug properly. A joint committee will now oversee production of Tamiflu.

- read this AP report for more