AstraZeneca Sued For $1.3B Over Failed Drug Deal

Law360, New York (May 27, 2009, 12:00 AM EDT) -- A San Diego pharmaceutical company has filed a $1.28 billion lawsuit accusing AstraZeneca AB of backing out of a deal to develop a pediatric asthma treatment and then working to stop the company from developing a competitive drug.

In a suit filed Tuesday in New York state court, Verus Pharmaceuticals Inc. claims the pharmaceutical giant terminated an agreement to develop pediatric budesonide in favor of a similar agreement with Map Pharmaceuticals Inc.

Verus is seeking $280 million in compensatory damages and $1 billion in punitive damages,...
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