ImClone, Sanofi lose patent dispute

A judge has ruled against ImClone and Sanofi-Aventis in a patent dispute between the companies and researchers from Israel's Weizmann Institute of Science. The sides were at odds over who owned a patent that inhibits the growth of tumor cells--a key patent in the development of the prostate cancer drug Erbitux. Yeda Research and Development Company, the licensing arm of the Weizmann Institute, filed suit in 2003, alleging that three researchers hadn't been given credit when the patent for the technology was issued  in 2001. As a result of the ruling, ImClone may have to share royalties with the researchers. The company's stocks took a dive after the announcement. ImClone says it will appeal the decision.

- read the report from The New York Times