Jury Hands Innogenetics $7M In Damages

Law360, New York (September 11, 2006, 12:00 AM EDT) -- A week after returning a verdict in Innogenetics’ favor, a federal jury has awarded the Belgian biotechnology company $7 million in damages in its longstanding battle with Abbott Laboratories over a hepatitis C virus genotyping patent.

Innogenetics announced the damages award on Friday, revealing that the amount could be trebled due to the willful infringement finding against Abbott.

"This is a landmark victory for Innogenetics, and possibly for other innovators like us out there," said Innogenetics Chief Executive Frank Morich.

The Belgian biotechnology company also confirmed...
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