GlaxoSmithKline reaches settlement agreement with Biota
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GlaxoSmithKline plc (GSK) today announced that it has reached a settlement in the litigation with Biota Holdings Limited regarding the commercialisation of Relenza (zanamivir). Under the terms of the settlement, GSK admits no liability but will make a payment of $20million AUD (£10million) to Biota.
Andrew Witty, Chief Executive Officer of GlaxoSmithKline, commented, “We are pleased to have reached a settlement that is satisfactory for both companies and brings an end to this litigation. GSK remains committed to working collaboratively with external organisations and biotech companies, such as Biota, in our ongoing efforts to bring innovative medicines and vaccines to patients.”
This litigation was commenced by Biota in Australia in May 2004. The licensing agreement for Relenza is unaffected by the settlement.
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