Valeant Pharmaceuticals Announces Award in Anacor Dispute

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LAVAL, Quebec, Oct. 18, 2013 /CNW/ – International, Inc. (NYSE: VRX and TSX: VRX) announced today the interim final in its previously disclosed arbitration with , Inc. to resolve a breach of contract arising out of services provided by Dow Pharmaceutical Sciences, Inc., prior to its acquisition by Valeant. As a result of the September 2013 arbitration hearing, Valeant has been ordered to make a one-time payment of $ 100 million in damages plus costs and fees to Anacor.  The arbitrator did not grant an injunction or ongoing royalty, which means that, while still subject to regulatory approval, nothing in the arbitrator’s order prevents the launch of Jublia® (efinaconazole 10% topical solution). As previously disclosed, Anacor had sought an award of at least $ 215 million plus injunctive relief.

About Valeant Pharmaceuticals International, Inc.

Valeant Pharmaceuticals International, Inc. (NYSE and TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology, and branded generics. More information about Valeant Pharmaceuticals International, Inc. can be found at www.valeant.com.

Forward-looking Statements

This press release may contain forward-looking statements, including, but not limited to, statements regarding the launch of Jublia®. Jublia has not been approved by the U.S. Food and Drug Administration. Forward-looking statements may generally be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current…Read more

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