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Business
Basilea Wins In Arbitration With J&J
by Ann M. Thayer
December 6, 2010
| A version of this story appeared in
Volume 88, Issue 49
Switzerland’s Basilea Pharmaceutica has been awarded $130 million after the Netherlands Arbitration Institute found Johnson & Johnson in breach of some but not all aspects of a licensing agreement. The award covers lost milestones, damages, and other payments related to the broad-spectrum antibiotic ceftobiprole. Over the past two years, European and U.S. regulators expressed concerns about J&J-run clinical trials and rejected applications for approval of the drug. Development and commercialization rights are to transfer back to Basilea by February 2011.
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