Actelion granted motion for new trial in Asahi damages dispute

Europe’s largest biotech company, Actelion (SIX: ATLN), announced this morning that, the Superior Court of the State of California, USA, has granted its motion for a new trial on compensatory damages awarded to Japanese drugmaker Asahi Kasei Pharma unless the latter consents, by November 10, 2011, to a reduction of the jury award by a further $99.2 million, thus respecting - in part - a request that Asahi make an election between damages for alleged lost profits or alleged development costs relating to the now dropped development of the rho kinase inhibitor fasudil.