SIGA Can't Scrap Smallpox Drug Profit-Share Ruling

Law360, New York (December 19, 2011, 8:39 PM EST) -- A Delaware judge on Friday refused to reconsider an order granting PharmAthene Inc. a share in profits from SIGA Technologies Inc.'s smallpox drug, as part of a ruling that SIGA breached an agreement to negotiate a merger and licensing deal for the drug, which the U.S. purchased to defend against potential bioterror attacks.

Vice Chancellor Donald Parsons Jr. ordered SIGA to share profits from sales of SIGA's smallpox drug, ST-246, on Sept. 22, ruling that all profits would be split evenly between the two companies after...
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