Pennsylvania
Penn expecting $467M windfall from COVID-19 vaccine royalty dispute
Penn Medicine researchers Katalin Karikó Ph.D., and Dr. Drew Weisman Ph.D., won the 2023 Nobel Prize in Medicine for their work on mRNA technology that contributed to the COVID-19 vaccine research.
Patents typically last about 20 years. The university holds at least four patents for its mRNA technology across the United States and Europe.
Researcher Karikó, an adjunct professor at Penn Medicine for 36 years, worked as a senior vice president for BioNTech between November 2013 and October 2022, according to her LinkedIn profile. She is considered an external consultant for the company as of Jan. 2, according to its website.
The COVID-19 vaccine, also known as Comirnaty, generated about $5 billion in sales in 2024.
As part of the deal, pharmaceutical giant Pfizer is expected to chip in $170 million for the Penn royalties and $364 million towards the NIH royalties owed.
As a company, BioNTech generated about $3.9 billion in revenue during 2023, down from $17.7 billion in 2022. BioNTech estimated 2024 revenue to be between $2.7 billion and $3.3 billion.
The university licensed its mRNA patents to several companies between April 2010 and August 2020, including Epicentre Technologies Corp., mRNA Biotherapeutics Inc. and Cellscript.
In 2017, BioNTech sublicensed the university mRNA technology from Cellscript and expects to keep developing more pharmaceutical medications, such as cancer treatments and flu vaccines, using the university patented technology.
Licensing revenue at the University of Pennsylvania has been a substantial revenue stream for the Philadelphia institution since the COVID-19 pandemic began.
In fiscal 2021, the university collected $300 million in license revenue. In fiscal years 2022 and 2023, the university garnered $1 billion each year. During fiscal year 2024, it reported $466 million in licensing revenue.
In May 2024, Penn Medicine researchers developed an mRNA vaccine for the H5N1 avian flu, leveraging prior COVID-19 vaccine research. The research was funded by the National Institute of Allergy and Infectious Diseases, National Institutes of Health and the Department of Health and Human Services.
The Duke University Human Vaccine Institute was awarded $7 million from the federal health agencies to conduct clinical trials in early 2025.
But for the commercialization of such research, the university relies on pharmaceutical manufacturers to license such patents and take the drug to market.
It was not immediately clear which companies, if any, have licensed the experimental avian flu technology.
The war with Iran could start impacting your wallet as soon as today.
Jim Garrity from AAA East Central says oil prices are up.
“They’re hovering around $72. They were pretty consistently around $65, $66 for a while,” he said.
Nationally, AAA said the average for a gallon of regular sits at about $3, up approximately six cents from last week.
In Pennsylvania, it’s around $3.12 a gallon, and in the Pittsburgh region, it’s around $3.24 a gallon. That’s actually down about four cents from last week.
Garrity added that gas prices this time of year would already be increasing, usually because of higher demand for the warmer months and the production of the summer blend of gas used for those months.
The impacts of what’s happening in Iran may not be immediate, which could be part of why our region and the state overall have not seen a spike yet, he said.
“It could be a couple of days later. It could be up to a week later,” Garrity said.
A lot of people are watching what happens with the Strait of Hormuz. Iran borders it to the north, and 20% of the world’s oil goes through it.
Iran is one of the world’s biggest oil producers, and China gets a lot of that oil.
“If there is an impact there, you could see oil start to come in from other parts of the world, which has a downstream effect on [the United States],” Garrity said.
One way you can save on gas if prices increase in our area is by slowing down.
“When you drive faster every five miles, over 50 miles an hour, your fuel efficiency is going down,” Garrity said. “You’re making the car work harder, making the gasoline consumption less effective.”
Garrity added that in 2022, when our area and many others saw some of the highest gas prices ever recorded, people changed their driving habits.
“We saw people make seemingly permanent changes to their driving behaviors, driving less in general, consolidating trips,” he said.
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