An arbitration panel has found in favor of French diabetes specialist Adocia (Euronext: ADOC) to resolve the first of its claims against US pharma major Eli Lilly (NYSE: LLY).
The companies’ attempts to collaborate on a diabetes program have twice broken down, leading to disputes over what Lilly owed Adocia and a host of other issues.
Adocia has been awarded $11.6 million as compensation by the American Arbitration Association panel for having earned a disputed contractual milestone payment. The Paris-based company will separately submit claims for interest, litigation fees and costs from the proceedings.
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