Royalty and profit-share rates on the 36 streams touched between 25 October and 1 November, in three groups, with word bands converted to ranges. Twenty-three publish a rate or band and 13 are drawn as empty bars; the PRX019 royalty, ended by Bristol Myers Squibb, is marked as

ADC Therapeutics expects to close an $86.6M private placement on 22 October. The same closing brings into force Amendment No. 2 to the company's 2021 royalty financing with HealthCare Royalty. From that day ADC can end the royalty on Zynlonta whenever it chooses. It pays 1.75

NovaQuest has paid for late-stage trials since its years inside Quintiles. When a trial fails it recovers nothing, and when a drug is approved it collects milestones and royalties up to a cap.

Hengrui booked $392M of licence revenue in the first nine months of 2026, equal to about two-fifths of its net profit, and received $612M of licence cash. Its partners include GSK, Bristol Myers Squibb, Merck, and Novo Nordisk. None of its licences abroad has yet paid a royalty.

On 13 October Judge Christopher Cooper of the District of Columbia recognised and enforced an arbitration award between Genentech and Novartis. The award, issued by a tribunal of the International Chamber of Commerce on 14 April 2025, declares that Vabysmo is not a Licensed Product under the agreements by which

On 14 October the Patent Trial and Appeal Board issued its final written decision on remand from the Federal Circuit. It held that Guardant Health had not shown any of the 30 challenged claims of US patent 10,760,127 to be unpatentable. The University of Washington owns the patent

On 7 October the District Court of The Hague ordered MSD to stop selling the subcutaneous form of Keytruda in eight European countries. The patent belongs to Halozyme. The enzyme in the product belongs to neither party. Alteogen, a Korean company, makes berahyaluronidase alfa and licenses it to Merck, which

Merck KGaA agreed to buy Silence Therapeutics for an equity value of about USD 1.3bn in cash, and an EQT fund agreed a recommended cash offer for QIAGEN at an enterprise value of about USD 12.1bn. Hansoh licensed preclinical conjugates to Roche for USD 400m upfront and a

On 13 October Liquidia settled six lawsuits with United Therapeutics over YUTREPIA, its inhaled treprostinil. The settlement agreement has Liquidia pay a net $175.0M within 30 business days and $145.4M in two instalments by the end of April 2027. Section 2.4 requires it to deliver, within ten