Shares of Biogen (BIIB) were lower Tuesday after the company resolved a dispute with Forward Pharma (FWP) over its multiple sclerosis drug. Biogen agreed to pay Forward $1.25 billion, which will give it a license to all intellectual property owned by Forward. Under the agreement, Biogen will also have to pay the Denmark-based company royalties of 10% to 20% of net sales of Biogen products approved for the treatment of multiple sclerosis.
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