QLT Faces $70M Bill From Visudyne Ruling

Law360, New York (July 10, 2007, 12:00 AM EDT) -- A judge has ruled that QLT Inc. is liable for unjust enrichment and unfair trade practices in a patent dispute over eye treatment Visudyne, which could cost the biopharmaceutical company $69.6 million.

In his ruling Tuesday, Judge William G. Young adopted a jury verdict which awarded Massachusetts Eye and Ear Infirmary a royalty rate of 3.01% for past, present and future worldwide sales of Visudyne and prejudgment interest on past royalties of 12%. Young also awarded MEEI attorneys' fees of more than $14 million.

QLT said...
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