Biota and GSK Conclude Litigation Through Mediation

Posted on: Monday, 21 July 2008, 12:01 CDT Biota Holdings Limited (ASX: BTA) today announced it had concluded its litigation against GlaxoSmithKline (GSK). The announcement followed formal mediation between by the parties ordered by the Victorian Supreme Court. The mediation provided the parties with the opportunity to resolve their differences and eliminate the uncertainty and costs associated with the legal process. 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 strengthened. The focus will be on developing the Relenza franchise particularly in the important market of pre-pandemic influenza risk management, an area of considerable concern to both governments and business. The agreement... [read full story]