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BioMarin and Ascendis settle Yuviwel patent cases on a 20% U.S. royalty
Binding term sheet Aug. 30: 20% of U.S. net sales and 18% in the EU, Brazil, and South Korea until May 2030. A settlement Agreement is supposed to replace the sheet by Sept. 24, 2026; if not, the sheet stays binding.
Claire Morgan · TickerGrove Healthcare Desk · Published · Event · BioMarin Pharmaceutical Inc.
Sources
BioMarin Pharmaceutical Inc. Form 8-K, Date of Report August 31, 2026 (August 30, 2026), accession 0001193125-26-375275, Items 1.01, 7.01, and 9.01, and Exhibit 99.1 furnished. Independently re-read. The term sheet is not an exhibit.
Date of earliest event August 30, 2026, from BioMarin Pharmaceutical Inc. Form 8-K cover, Date of Report August 31, 2026 (August 30, 2026). Accession 0001193125-26-375275. Item 1.01 is a binding term sheet, not a signed settlement-and-license Agreement. U.S. royalty is 20%; EU, Brazil, and South Korea are 18% until May 2030. The term sheet is not filed as an exhibit.
BioMarin Pharmaceutical Inc. entered a binding term sheet with Ascendis Pharma A/S on August 30, 2026. It is not yet a signed settlement-and-license agreement that replaces that sheet.
What the 8-K locks
Under the term sheet, BioMarin will grant Ascendis and its affiliates a non-exclusive, worldwide, transferable, royalty-bearing license to those patents. The licensed products are any product, method, or service that includes the C-type natriuretic peptide known as TransCon CNP, navepegritide, or Yuviwel. The license covers all current and potential indications, including achondroplasia and hypochondroplasia, and use in combination with other medicines.
The parties will dismiss with prejudice all pending litigation between them relating to the BioMarin patents. The term sheet also includes a mutual regulatory non-interference clause, a covenant by Ascendis not to challenge the patents, a release by BioMarin of infringement claims before the effective date, and a covenant not to sue going forward.
The royalty
In consideration for the license, Item 1.01 says, Ascendis will pay BioMarin a two-row split:
| Territory | Royalty of annual net sales | Clock |
|---|---|---|
| United States | 20% | From first commercial sale in that territory, applied retroactively as applicable, until May 2030 |
| European Union, Brazil, and South Korea | 18% | Same clock, until May 2030 |
Those are two rates, not one global 20%. The 8-K does not print how much Yuviwel has already sold, so it does not print a dollar royalty.
Exhibit 99.1, furnished under Item 7.01 and not deemed filed for Exchange Act Section 18, restates the same split in shorter form: 20% of Yuviwel net sales in the U.S., retroactive to first commercial sale, and 18% in the EU, Brazil, and South Korea until May 2030. The exhibit also names venues Item 1.01 does not: a pending Section 337 investigation at the U.S. International Trade Commission, and litigation in Brazil, Denmark, Germany, South Korea, and the Northern District of California. Those court names stay with the exhibit.
What still has to be signed
The term sheet is binding as of August 30. The parties agreed to negotiate in good faith a settlement and license agreement that, once signed, will supersede the term sheet in full. If they cannot enter that agreement, incorporating the term sheet’s terms, by September 24, 2026, every provision of the term sheet remains binding.
BioMarin’s 8-K is a description of the term sheet. The term sheet itself is not filed as an exhibit.
The furnished release quotes BioMarin’s chief executive on innovation and names VOXZOGO (vosoritide), BioMarin’s own CNP medicine. That mention is not a second royalty in Item 1.01.
The royalty clock in the 8-K runs to May 2030. The paper on file is still the term sheet.
A binding term sheet is not the signed Agreement
BioMarin entered a binding term sheet with Ascendis on August 30, 2026. It is not yet a signed settlement-and-license agreement that replaces that sheet. The U.S. royalty is 20% of annual net sales of licensed products; the EU, Brazil, and South Korea royalty is 18%, until May 2030. If no Agreement by September 24, 2026, the term sheet stays binding.
Keep 20% on the U.S. row and 18% on the EU, Brazil, and South Korea row
Use Item 1.01 for the binding term sheet dated August 30, 2026, the non-exclusive worldwide license to TransCon CNP / navepegritide / Yuviwel, the 20% United States royalty and the 18% European Union, Brazil, and South Korea royalty until May 2030, and the September 24, 2026 fallback that leaves the sheet binding. Use furnished Exhibit 99.1 for the ITC Section 337 investigation and the Brazil, Denmark, Germany, South Korea, and Northern District of California venues. VOXZOGO in the release is not a second Item 1.01 royalty. There is no printed Yuviwel net-sales dollar and no filed term-sheet exhibit.
Document trail
Sources & evidence
Primary documents used for this piece.
BioMarin Pharmaceutical Inc.
BioMarin Pharmaceutical Inc. Form 8-K, accession 0001193125-26-375275, Item 1.01
BioMarin Pharmaceutical Inc.
Corrections
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