US Court upholds damages award in Actelion/Asahi litigation

Switzerland-based Actelion (SIX: ATLN) says that the California Supreme Court has denied the firm’ petition for review of the Court of Appeal's decision affirming the final judgment entered against Actelion in November 2011 in Asahi Kasei Pharma Corp v Actelion Ltd, et al (case S216123; The Pharma Letters passim).

Actelion, Europe’s largest biotech firm, said it is disappointed by the decision and strongly believe there are significant reasons why the Supreme Court should have reviewed the case. The judgment now stands.

The dispute relates to a licensing and development agreement between the two companies regarding Asahi’s fasudil, a potential treatment for pulmonary arterial hypertension, being developed by the Japanese firm and CoTherix, which Actelion acquired in 2007. Actelion, whose leading product Tracleer (bosentan) is for the treatment of PAH, dropped further development of fasudil.