News In Brief
Genentech Inc. has agreed to pay University of California, San Francisco, $200 million to end a decade-long dispute over rights to the biotechnology company's lucrative human-growth hormones, the Los Angeles Times reported. The accord, which must be approved by the state Board of Regents, is believed to be one of the largest settlements in a patent-infringement case. Five scientists responsible for discovering the gene for the hormone while at the university would collect about $20 million each and the rest would go to the university, the Times said, citing sources familiar with the deal.
Air Express International, a leading freight-forwarder, has been sold to Europe's largest mail, parcel, and logistics company, Deutsche Post AG of Bonn, Germany, for $1.14 billion, the companies said. Darien, Conn.-based Air Express subcontracts with distribution companies, warehouses, and freight carriers in the movement of parcels. Deutsche Post said it plans to integrate Air Express into its Danzas Intercontinental division, making the latter a world leader in air freight.
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