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The University of Texas System is hoping the Texas Supreme Court can reverse an appellate court ruling that threw out a $51 million judgment in a royalty rate dispute with IDEXX Laboratories Inc. The parties came before the court this week for oral arguments concerning a licensing agreement signed in 1999 related to Lyme disease detection patents controlled by the Board of Regents of the UT System. For 13 years, the regents accepted a half-percent royalty on SNAP disease detection products developed and marketed by IDEXX. But as the patents were expiring, the regents audited IDEXX royalty payments and determined the rate should have been 2.5%. The dispute resulted in a trial and a judgment that the license agreement unambiguously required the 2.5% rate. The UT System was awarded $51 million, with more than $14,000 additional interest accruing daily.
Health Care
January 11, 2024, 2:18 PM