Court orders SIGA to pay $195,000 in case brought by PharmAthene for Tecovirimat

16 January 2015

The Delaware Court of Chancery, USA, has entered its Final Order and Judgment in the case brought by US pharma company PharmAthene against SIGA Technologies.

The judgment against SIGA totaled $194,649,042, including $113,116,985 in lump sum expectation damages for the value of PharmAthene's lost profits for SIGA's smallpox antiviral, Tecovirimat (ST-246), and $81,532,057 in pre-judgment interest and attorneys' and expert witness fees.

SIGA is also liable for post-judgment interest of $30,664 per day, as of January 15. The decision is subject to appeal by SIGA to the Delaware Supreme Court. PharmAthene is automatically stayed from taking any enforcement action in the Delaware Court of Chancery as SIGA has filed for protection under federal bankruptcy laws. PharmAthene’s ability to collect a money judgment from SIGA remains subject to further proceedings on the matter.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK