PharmAthene Wins Share Of SIGA Smallpox Drug Profits

Law360, New York (September 22, 2011, 8:18 PM EDT) -- A Delaware judge on Thursday granted PharmAthene Inc. a share in profits from sales of SIGA Technologies Inc.'s smallpox drug, ruling SIGA breached an agreement to negotiate a merger and licensing deal for the drug, which the U.S. purchased as a defense against potential bioterror attacks.

After SIGA earns $40 million from the ST-246 drug, all profits will be split evenly between the two companies, an arrangement similar to a framework discussed in negotiations before talks broke down, according to Vice Chancellor Donald Parsons Jr.'s ruling....
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