Drug company hands patents off to Native American tribe to avoid challenge

Photo P199/Wikimedia

September 15, 2017 – Post Of The Week On Facebook

By – ARSTechnica.com – Photo P199/Wikimedia

A drug company has found a novel way to avoid challenges to some of its most prized patents: handing them off to a Native American tribe for safe-keeping.

On Friday, Allergan disclosed that it gave six patents covering its top-selling dry eye drug Restasis to the St. Regis Mohawk Tribe in Northern New York. The deal will provide the tribe with $13.75 million immediately and an annual royalty of $15 million as long as the patents are valid. The new deal was soon reported in both The New York Times and The Wall Street Journal. 

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