Celgene Corporation -- Moody's: Celgene's Revlimid patent settlement reduces uncertainty

New York, December 23, 2015 -- Moody's Investors Service commented that the US patent settlement between Celgene Corporation (Baa2 stable) and Natco Pharma Ltd. (unrated) related to multiple myeloma drug Revlimid reduces uncertainty associated with a near-term generic launch. The terms of the agreement reduce the downside risk to Celgene that would occur from a generic launch prior to the dates specified in the settlement agreement. That said, the agreement allows for a generic launch prior to the expiration of the US Revlimid patents. There is no impact on Celgene's Baa2 rating or stable rating outlook.

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