ImClone Settles Patent Infringement Case

Repligen Corp. (RGEN) announced a modest $65 million settlement from ImClone Systems Inc. (IMCL) which will receive a nonexclusive sublicense to market Erbitux. Shares of Repligen dropped 89 cents to close at $4.12 while ImClone stock climbed $1.19 to close at $37.93.