Swiss biotech group Actelion may appeal against a jury's decision in a Californian court to award Asahi Kasei Pharma Corporation up to $547 million in a dispute with Actelion unit CoTherix.
Actelion said in a statement that the Superior Court of the State of California jury would on Tuesday continue deliberations regarding punitive awards.
"The company is disappointed, but respectful of the jury's verdict in this ongoing litigation. Once the jury has concluded their deliberations, Actelion will decide on potential further steps, including (but not limited to) an appeal," Actelion said in a statement.
Asahi filed a complaint at the State Court of California at the end of 2008 against Actelion and its subsidiaries Actelion Pharmaceuticals U.S. Inc., Actelion Pharmaceuticals Ltd, Actelion U.S. Holding Company, CoTherix and three individual officers. The dispute concerns a licensing and development agreement between Asahi and CoTherix for the drug compound fasudil that was terminated when Actelion bought CoTherix in 2007.
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Keywords : Actelion Actelion CoTherix Asahi Kasei Actelion CoTherix Asahi Kasei Actelion dispute Asahi Kasei Pharma Corporation Biotech Biotechnology CoTherix fasudil licensing and development licensing and development Asahi CoTherix
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