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BRIEF-BTG Plc ‍says court issues final order on litigation between co and Wellstat Therapeutics ​
November 6, 2017 / 7:41 AM / 17 days ago

BRIEF-BTG Plc ‍says court issues final order on litigation between co and Wellstat Therapeutics ​

Nov 6 (Reuters) - BTG Plc

* ‍COURT OF CHANCERY OF DELAWARE HAS ISSUED ITS FINAL ORDER AND JUDGEMENT IN RELATION TO LITIGATION BETWEEN BTG AND WELLSTAT THERAPEUTICS ​

* ‍CONFIRMS COURT‘S RULING THAT BTG HAS BREACHED DISTRIBUTION AGREEMENT RELATING TO COMMERCIALISATION OF VISTOGARD​

* ‍DISTRIBUTION AGREEMENT HAS BEEN TERMINATED AND BTG ANTICIPATES RETURNING ALL RIGHTS TO VISTOGARD TO WELLSTAT AS SOON AS PRACTICABLE​

* ‍COURT HAS ALSO CONFIRMED ITS RULING THAT WELLSTAT IS ENTITLED TO DAMAGES OF $55.8M PLUS INTEREST AND COSTS​

* ‍CONTINUES TO CONSIDER APPEAL OPTIONS​

* ‍PENDING OUTCOME OF ANY APPEAL, BTG TO RECOGNISE PROVISION OF £53.5M IN HY RESULTS TO COVER DAMAGES, ESTIMATED INTEREST PLUS COSTS AT THAT DATE​ Source text for Eikon: Further company coverage:

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