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The United States Supreme Court has agreed to address "[w]hether, under §365 of the Bankruptcy Code, a debtor-licensor's ‘rejection' of a license agreement—which ‘constitutes a breach of such contract,'

The biotechnology and pharmaceutical industries, as well as academia, eagerly awaited a recent Federal Circuit U.S. Court of Appeals decision in which the court held that the University of Rochester's patent claims to methods for blocking the action of the enzyme called cyclooxygenase-2 (COX-2) — and that covered by implication the sales of the blockbuster drugs Celebrex and Bextra — were invalid.