Judge lays out timetable for Biota-GSK stoush
Tuesday, 01 February, 2005
The timetable for the legal fight between Biota (ASX: BTA) and pharmaceutical giant GlaxoSmithKline (GSK) has been agreed to by the companies' legal teams.
Biota sued GSK last May over the pharma company's handling of Biota's anti-flu drug Relenza since its launch in 1999, claiming breach of contract and breach of fiduciary duty in promoting the drug and seeking compensation for lost royalties.
While Biota has not stated the magnitude of its claims, analysts have predicted that the company could be seeking $100 million in compensation.
Under orders issued by Victorian Supreme Court Justice Whelan, GSK has to file its defence by April 8. Following that, there will be three tranches of discovery, on April 15, May 27 and June 24.
Attempts at mediation between the two companies to reach a settlement will have to be concluded by November 25, and if no resolution has been achieved, Biota and GSK will head back to the Supreme Court on December 2 to fix a time for trial, which is not likely to commence before the second quarter of 2006.
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