BRIEF—Idorsia says clazosentan milestone claim unmerited

Swiss drug developer Idorsia today announced that a representative of former Axovan shareholders claims the demerger of Actelion and Idorsia would trigger the acceleration of all outstanding milestone payments for clazosentan and has filed a complaint with the arbitrator in Switzerland against Actelion.

Since the responsibilities of the underlying share purchase agreement between Actelion and former Axovan shareholders have been transferred from Actelion, which was acquired by Johnson & Johnson for $30 billion last year, to Idorsia, Idorsia is liable to pay the milestones referred to in the share purchase agreement.

However, Idorsia states that it believes that such claim has no merit.