Vectura Group PLC - London-based drug delivery products firm - Says US Court of Appeals for the Federal Circuit has denied drugmaker GlaxoSmithKline PLC's motions for judgment as a matter of law, a new trial on infringement and for a new trial on damages in litigation concerning Vectura's US patent 8303991. The award of USD89.7 million in damages to Vectura has been upheld.
"We are very pleased with the result of this appeal, which confirms the validity of our intellectual property and the decision to progress this litigation with GSK. Once we have further clarity regarding final settlement and potential timing of receipts, we will provide a further market update," says Vectura Chief Executive Will Downie.
Current stock price: 114.38 pence
Year-to-date change: up 23%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Glaxosmithkline (GSK)