GTC pursuing legal action against LEO

The USA's GTC Biotherapeutics has terminated its contract with Denmark-based LEO Pharma for the commercialization and development of  ATryn, GTC's recombinant form of human antithrombin.

GTC considers LEO to be in breach of its obligations under the contract  so is terminating pursuant to its terms and seeking damages under  International Chambers of Commerce arbitration procedures.

"As previously disclosed, LEO indicated last fall that they wished to  transfer the program to another partner, and GTC has been working  towards achieving this objective while at the same time ensuring that  LEO met their contractual obligations," stated GTC chief executive  Geoffrey Cox. "Despite our best efforts to work with LEO to transfer  this program to an alternative partner, this has been a protracted  process. We have had significant interest in ATryn from a number of  potential partners in these territories," he added.