Repligen Sues Bristol-Myers

The company alleges patent infringement.
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Biopharmaceutical company

Repligen

(RGEN) - Get Report

and the University of Michigan are suing

Bristol-Myers Squibb

(BMY) - Get Report

, alleging that the New York-based drug giant infringed a patent for a compound used in a rheumatoid arthritis treatment.

Repligen, based in Waltham, Mass., alleges that the Bristol-Myers drug Orencia infringes on the patent. Repligen said it plans to pursue a royalty-bearing license agreement with Bristol-Myers "whether through litigation or negotiation."

The patent, entitled "Methods of Treating Autoimmune Disease via CTLA4-Ig," covers the use of the compound to treat rheumatoid arthritis and other therapeutic methods. Repligen said Friday in a press release that it has exclusive rights to the patent from its owners, the University of Michigan and the U.S. Navy.

The suit was filed in a U.S. District Court in Texas. Shares of Repligen were down 15 cents, or 3.4%, at $4.24. Bristol-Myers added 16 cents to $22.79.

Orencia received Food and Drug Administration approval last month.