By Kim Richters 
 

Merck KGaA said Tuesday that is reversing a 365 million euros ($425.8 million) provision for patent dispute proceedings in the U.S.

The provision relates to a patent dispute of its subsidiary EMD Serono Inc. with Biogen Inc. about Merck's product Rebif.

Merck said its decision comes after the U.S. Court of Appeals for the Federal Circuit ruled in favor of the German pharmaceutical-and-chemical company on Monday.

Merck added that it might book a provision of up to a mid- to high-double-digit million amount and will adjust its outlook accordingly.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

September 29, 2020 12:57 ET (16:57 GMT)

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