Guardant Health Ordered to Pay $245.2 Million, Owes 6% Royalty After Patent Loss
Updated
Updated · Investor's Business Daily · Aug 24
Guardant Health Ordered to Pay $245.2 Million, Owes 6% Royalty After Patent Loss
3 articles · Updated · Investor's Business Daily · Aug 24
Summary
$245.2 million in damages, accrued royalty and interest was awarded against Guardant Health after it lost a patent case to TwinStrand Biosciences and the University of Washington.
A judge also imposed a 6% royalty on sales of Guardant's key products, including its Guardant360, Reveal and Shield tests, extending the financial hit beyond the one-time payment.
Guardant shares tumbled Monday as investors absorbed both the immediate penalty and the ongoing royalty burden tied to some of the company's core cancer-testing products.
Could a massive $245 million patent penalty and ongoing royalties permanently cripple Guardant Health's dominance in the booming cancer diagnostics market?
Will this landmark biotech ruling trigger a dangerous wave of aggressive patent lawsuits that could stall life-saving liquid biopsy innovations?