Biota, GSK settle legal action

Biota Holdings Ltd has resolved legal action it took against global pharmaceutical group GlaxoSmithKline (GSK) related to its perceived lack of support for Biota's Relenza flu treatment, after the pair were ordered into mediation by the Supreme Court of Victoria. Biota said on Monday the parties had resolved their differences, with GSK agreeing to pay Biota of $20 million and each party bearing their own legal costs. Biota, which licensed Relenza to GSK in 1990, had claimed GSK had breached its contract to adequately promote and market the drug, causing it to lose millions in royalties. Biota was seeking damages of up to $700 million. "Biota and GSK have agreed to normalise their relationship to pursue the best interests of Relenza, with senior executive liaison and co-operation between the companies to be restored and... [read full story]