Damages In Little-Known Biotech Suit Reach Record Level

Law360, New York (January 5, 2006, 12:00 AM EST) -- In the epilogue to an acrimonious battle over a drug that could be worth billions of dollars, a federal jury has ordered a California biotechnology company to pay an additional $30 million in punitive damages to a small family-owned pharmaceutical company whose patents it illegally licensed.

The development comes only weeks after the federal jury ordered rival Arriva Pharmaceuticals Corp. to pay $48 million to Florida- based AlphaMed Pharmaceutical Corp. in compensatory damages.

Last December, Arriva was found guilty of “unfair competition, stealing trade secrets and...
To view the full article, register now.