Asahi Kasei Ends Suit Over $91M Arbitration Award

Law360, New York (March 17, 2010, 3:25 PM EDT) -- Following a settlement, Asahi Kasei Pharma Corp. has dropped a suit to enforce a $91 million arbitration award against Cotherix Inc. over a drug licensing deal that went south in the wake of a Cotherix merger.

The suit, filed Jan. 15 in the U.S. District Court for the Northern District of California, ended Tuesday with Judge Vaughn R. Walker's approval of a voluntary dismissal notice from Asahi.

Asahi launched the court action after Cotherix, now a subsidiary of Swiss biopharmaceutical firm Actelion Ltd., allegedly failed to...
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