MedImmune to Settle Patent, Royalty Lawsuits
MedImmune, maker of the drug Synagis, a treatment for lung infections in infants, said it agreed to settle two lawsuits between the company and Celltech R&D and will pay Celltech royalties based on sales of the drug.
The agreement settles a January 2004 claim by MedImmune challenging the validity of Celltech's patent on Synagis as well as Celltech's March 2004 claim seeking royalty payments based on U.S. sales of the treatment, the Gaithersburg company said in a regulatory filing.
Synagis last year accounted for $942 million, or 84 percent, of MedImmune's product sales.
Anteon Wins $10 Million Air Force Contract
Anteon International said it received a contract to provide software engineering support services for the Air Force Materiel Command at Hill Air Force Base in Utah. If all options are exercised, the contract will be valued at $10 million over 32 months.
Anteon will design, develop, test and provide support and upgrades for the embedded software and hardware of weapon systems platforms for the command.
McCormick Profit Flat in 2nd Quarter
Spicemaker McCormick of Sparks, Md., said it earned $42.79 million (31 cents a share) in its second quarter, down from $42.85 million (30 cents) in the comparable quarter a year earlier. Sales increased 5 percent, to $629 million. The company said increased sales were offset by factors including the continued high cost of vanilla beans.
For the six months ended May 31, McCormick had a profit of $78.8 million (56 cents) on revenue of $1.23 billion, down from $81 million (57 cents) on revenue of $1.17 billion in the comparable period a year earlier. The company lowered its projected earnings per share for the year to $1.66 to $1.70 from the previous guidance of $1.70 to $1.74 because of concerns including unfavorable foreign exchange rates.
Manugistics Reports Narrower Loss
Manugistics, a Rockville software firm, said it lost $4.9 million (6 cents a share) in its first quarter ended May 31, compared with a $7.7 million (9 cents) loss in the comparable quarter last year. Revenue fell 9.5 percent, to $46.7 million.
Compiled from staff and news service reports.