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Article: A right royalty row halves Peptech share price.
- Article from:
- Australasian Business Intelligence
- Article date:
- October 31, 2002
CopyrightCOPYRIGHT 2002 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Oct 30, 2002 (The Australian - ABIX via COMTEX)
The receipt of sales royalties in the US for Australia's Peptech is in doubt after a dispute with Centocor. This revelation has caused a sharp decline, of $A1.11 or 54 per cent, in Peptech's share price, to $A0.96. The dispute centres on claims by the Johnson & Johnson subsidiary in the US that Peptech's Remicade drug does not fall within the claims made by Peptech's European and US patents. Peptech has refuted the claims and has expressed confidence the decision by Centocor to cease royalty payments to it will be ...