BYU just earned $450M from Pfizer

http://www.deseretnews.com/article/865554988/BYU-Pfizer-reach-settlement-in-multibillion-dollar-Celebrex-lawsuit.html?pg=2" onclick="window.open(this.href);return false;



To put that in comparison, I think BYU's entire university endowment is around $800M.



I"m glad they came to a resolution. The amazing thing is that the $450M is probably a minimum amount that doesn't include royalties going forward. Great news for the University!

Good for BYU. They deserved it.

The thread should read BYU had $450M stolen by Pfizer that will now be returned.



Of course that supposes you believe in patents.



Oh the lawsuit called for $5B in past revenue plus future royalties. Without having seen the prospectus it is hard to say what happened in the settlement. This could just be a first installment. We also don't know what the split is between the university and Dr Simmons.

lol stolen huh?



that's funny. So did Dr. Simmons push his enzyme discovery through FDA requirements, clinical trials and years of human testing? Did he create a marketable delivery system to inhibit his discovered enzyme and invest in massive manufacturing facilities to mass produce it? Did he create the Celebrex brand name and spend millions of dollars marketing it to doctors and patients around the world? Nooooo?



Don't get me wrong. Without Dr. SImmons we wouldn't have Celebrex, but don't forget the role that Monsanto/Pfizer played in creating the Billion dollar industry they "stole".

CougarClaw wrote:
lol stolen huh?



that's funny. So did Dr. Simmons push his enzyme discovery through FDA requirements, clinical trials and years of human testing? Did he create a marketable delivery system to inhibit his discovered enzyme and invest in massive manufacturing facilities to mass produce it? Did he create the Celebrex brand name and spend millions of dollars marketing it to doctors and patients around the world? Nooooo?



Don't get me wrong. Without Dr. SImmons we wouldn't have Celebrex, but don't forget the role that Monsanto/Pfizer played in creating the Billion dollar industry they "stole".

Yes, it's a billion-dollar industry, and they stole $450 million worth, not all billions worth.

Schmoe wrote:

lol stolen huh?



that's funny. So did Dr. Simmons push his enzyme discovery through FDA requirements, clinical trials and years of human testing? Did he create a marketable delivery system to inhibit his discovered enzyme and invest in massive manufacturing facilities to mass produce it? Did he create the Celebrex brand name and spend millions of dollars marketing it to doctors and patients around the world? Nooooo?



Don't get me wrong. Without Dr. SImmons we wouldn't have Celebrex, but don't forget the role that Monsanto/Pfizer played in creating the Billion dollar industry they "stole".

Yes, it's a billion-dollar industry, and they stole $450 million worth, not all billions worth.

touche

Failing to honor a contract is theft. Who knows what's in the contract though?



If it is just patent infringement I wouldn't call it theft.



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The title of the thread says "BYU just earned $450M from Pfizer"



BYU earned that money a long tme ago. It just took 6 years to get the money.