Del. Justices Uphold $56M Award In Drug Contract Dispute
By Jeff Montgomery (June 12, 2018, 8:31 PM EDT) -- Delaware's Supreme Court late Monday upheld a $55.8 million breach of contract ruling from September 2017 that favored oncology drug developer Wellstat Therapeutics Corp., but called for revised prejudgment interest calculations under terms still likely to push the overall award above $70 million.
In a brief ruling, Chief Justice Leo E. Strine Jr. said the full five-member court rejected BTG International Inc.'s claims that Vice Chancellor J. Travis Laster abused his discretion and erred in finding that BTG failed to properly market a cancer therapy drug antidote under an agreement with Wellstat.
The vice chancellor determined after a five-day trial that...
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