Issue Date: August 29, 2011
Asahi Gets Judgment In Actelion Lawsuit
A superior court in California has entered a judgment requiring Switzerland’s Actelion to pay $517 million to Asahi Kasei for breaching a licensing agreement. In May, a jury awarded Asahi $576 million, a portion of which was offset by an arbitration-related payment Actelion made in 2009. The case dates back to 2006 when California-based CoTherix agreed to develop fasudil, a rho-kinase inhibitor discovered by Asahi Kasei Pharma. Actelion acquired CoTherix in early 2007. After development of the drug was discontinued later that year, Asahi sued Actelion for breach of contract. Actelion has been waiting for the judgment to be entered before filing an appeal.
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