Fed. Circ. Nixes Apotex $108M Interest Payout Over Plavix

Law360, New York (October 18, 2011, 3:09 PM EDT) -- The Federal Circuit on Tuesday rejected a lower court's finding that Apotex Inc. must pay drugmaker partners Sanofi-Aventis SA and Bristol-Myers Squibb Co. $108 million in prejudgment interest on top of a $442 million damages award for infringing the patent for the blood-thinning medication Plavix.

U.S. District Judge Sidney H. Stein of the Southern District of New York erred by interpreting an agreement between the parties to allow the awarding of prejudgment interest, the appeals court ruled.

"We conclude that the parties intended that the phrase...
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