California Supreme Court To Review $500M Judgment Vs. Genentech

Law360, New York (February 3, 2005, 12:00 AM EST) -- California’s Supreme Court has agreed to review a judgment by an appeals court that ordered biotech company Genentech to pay $500 million, including $200 million in punitive damages, for failing to pay licensing fees to a Southern California medical research center.

In October, the 2nd District Court of Appeal upheld more than $500 million in damages against Genentech in a dispute over royalties on human insulin and human growth hormone developed in part by the City of Hope National Medical Center.

The appeals court ruled unanimously...
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