Gilead Calls $50M Cancer Drug Bonus Demand 'Absurdity'

Law360, Wilmington (January 10, 2017, 8:59 PM EST) -- A Gilead Sciences Inc. attorney dismissed as “absurdity” on Tuesday claims that the company’s $375 million purchase of Calistoga Pharmaceuticals Inc. in 2011 mandated a conditional $50 million bonus payment if a promising Calistoga drug qualified for use in treating a handful of patients.

Gilead attorney Jason Sheasby of Irell & Manella LLP made the point during post-trial arguments in a contract battle over terms for supplemental milestone payments Calistoga stood to earn if its Zydelig blood cancer drug won regulator approval.

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