Nektar wins $90 million Lilly contract verdict
- A jury found Eli Lilly breached the implied covenant of good faith and fair dealing in a license agreement dispute with Nektar Therapeutics.
- The jury awarded Nektar $90 million in damages plus interest to be determined by the court.
- Nektar said the verdict remains subject to post-trial proceedings and potential appeals.
Nektar Therapeutics (NASDAQ:NKTR) received a jury verdict awarding the company $90 million in damages after a court found Eli Lilly (NYSE:LLY) breached the implied covenant of good faith and fair dealing related to a prior rezpegaldesleukin license agreement.
The dispute began in August 2023 when Nektar filed a complaint in the U.S. District Court for the Northern District of California alleging breach of contract and other claims connected to the companies’ collaboration for developing and commercializing rezpegaldesleukin.
The jury’s September 24, 2026 verdict awarded Nektar $90 million in damages, with additional interest to be determined by the District Court, while the outcome remains subject to post-trial proceedings and any resulting judgment may be appealed.
Nektar Therapeutics is a biotechnology company focused on developing medicines designed to address conditions including cancer, autoimmune diseases, and inflammatory disorders.
The company’s legal dispute with Eli Lilly involved rights and obligations under a license agreement related to rezpegaldesleukin, a therapeutic candidate developed through their previous collaboration.
