Novartis: sues Amgen to block termination of migraine deal
(CercleFinance.com) - Novartis has filed a lawsuit to block US biotechnology company Amgen from terminating their collaboration agreement in the field of migraine.
The Swiss drugmaker said Amgen issued a notice of termination of the migraine collaboration, based on an alleged material breach of the agreement.
Novartis said it disputes the notice "vigorously" and has filed a lawsuit requesting the court to confirm that Amgen has no right to terminate the agreements, it said.
"Novartis considers the notice of termination unjustified and without legal merit," the group said.
Pending a final court decision, the collaboration deal will remain in force, Novartis added.
The company said it has made significant financial investments in the development and commercialization of Aimovig, which is approved by EU and by the US for migraine prevention, since last year.
While Amgen retains commercialization rights for Japan, Novartis has exclusive rights in Europe, Canada and the rest of the world. They jointly commercialized the drug in the US.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Swiss drugmaker said Amgen issued a notice of termination of the migraine collaboration, based on an alleged material breach of the agreement.
Novartis said it disputes the notice "vigorously" and has filed a lawsuit requesting the court to confirm that Amgen has no right to terminate the agreements, it said.
"Novartis considers the notice of termination unjustified and without legal merit," the group said.
Pending a final court decision, the collaboration deal will remain in force, Novartis added.
The company said it has made significant financial investments in the development and commercialization of Aimovig, which is approved by EU and by the US for migraine prevention, since last year.
While Amgen retains commercialization rights for Japan, Novartis has exclusive rights in Europe, Canada and the rest of the world. They jointly commercialized the drug in the US.
Copyright (c) 2019 CercleFinance.com. All rights reserved.