Judge Upholds PharmAthene-SIGA Smallpox Drug Profit Share

Law360, New York (June 1, 2012, 4:45 PM EDT) -- A Delaware judge on Thursday upheld his September ruling granting PharmAthene Inc. a share in profits from SIGA Technologies Inc.'s smallpox drug after finding that SIGA breached an agreement to negotiate a merger and licensing deal for the drug, which the U.S. purchased to defend against potential bioterror attacks.

The final judgment issued by Vice Chancellor Donald Parsons Jr. ordered SIGA to share profits from sales of its smallpox drug ST-246. All profits would be split evenly between the two companies after SIGA made its first...
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