Pfizer (PFE) and its partner BioNTech (BNTX) have infringed a COVID-19 vaccine patent owned by Moderna (MRNA), Reuters reported Wednesday, citing a German court ruling.
The court reportedly ordered Pfizer and BioNTech to disclose earnings related to the patent's use and pay a compensation to Moderna, according to the report.
Pfizer and BioNTech argued they were permitted to use the technology based on Moderna's public statement until the World Health Organization declared in May 2023 that COVID-19 was no longer a global emergency, the media outlet reported.
The court did not determine the compensation amount, which will be decided in further legal proceedings and could change if there is an appeal, Reuters said.
Pfizer, BioNTech and Moderna did not immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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