Lilly sues drug partner, alleging breach of contract
INDIANAPOLIS Eli Lilly and Co. is suing a California partner for breach of contract, alleging Valeant Pharmaceuticals International failed to share the cost of product liability claims arising from Permax, a drug for Parkinson's disease. The Indianapolis drugmaker sued Valeant, of Aliso Viejo, Calif., this week in U.S. District Court in Indianapolis. Permax was approved in 1988 as an add-on therapy for Parkinson's. Lilly later entered an agreement with Valeant to market the drug, and said the agreement covered sharing costs of product liability claims. In 2007, Lilly voluntarily removed the drug from the market because of the risk of serious damage to heart valves. Valeant claimed the cost-sharing obligations would take effect only if the claims were caused by Valeant's misconduct, according to the suit, a point Lilly disputes. Lilly said the sum in dispute exceeds $75,000 but did not give the precise amount it is seeking to recover. (Star report)
valeant pharmaceuticals international, eli lilly and co, california partner, eli lilly, breach of contract, permax, heart valves, star report, product liability, aliso viejo, Indianapolis, risk, Business, Health Care & Pharma

0 comments