Genentech Loses Appeal Of $500M Royalties Verdict

Law360, New York (October 24, 2004, 12:00 AM EDT) -- A California appeals court has upheld more than $500 million in damages against biotech company 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 Second District Court of Appeal ruled unanimously that there was "substantial evidence" that Genentech had acted fraudulently in failing to pay royalties, affirming a Los Angeles County Superior Court jury's 2002 decision to award City of Hope more than $300 million in compensatory damages and $200...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.