J&J Must Pay Basilea $130 Million for Drug License Breach - ABC News.
Johnson & Johnson must pay former Swiss partner Basilea about $130 million for breaching a license agreement for a superbug antibiotic, a Dutch arbitration tribunal has ruled. The Swiss biotech group, which was developing ceftobiprole with the U.S. healthcare company, said on Monday the amount awarded included lost milestone payments as well as damages. Earlier this year, Johnson & Johnson ended a partnering deal with Basilea, returning the rights to ceftobiprole to Basilea after European and U.S. authorities decided not to back the drug, citing doubts about how reliable the results of the trial were.
