Basilea awarded $130 million in breach of contract arbitration with Johnson & Johnson; updates on isavuconazole program

30 November 2010

Switzerland-based Basilea Pharmaceutica (SIX: BSLN) announced yesterday that a Dutch arbitration tribunal has found US drug major Johnson & Johnson (NYSE: JNJ) in breach of its license agreement with the company. The tribunal awarded Basilea around $130 million as compensation for lost payments related to ceftobiprole, including milestones, other damages and interest, which is immediately enforceable.

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