US court upholds Vectura damages award against GSK
UK-based inhaled therapies developer Vectura (LSE: VEC) today said that, following the award of $89.7 million in damages to Vectura by a jury in the US District Court for the District of Delaware on May 3, 2019, presiding US District Judge Richard Andrews has ruled on the parties’ post-trial motions:
- Award of $89.7 million in damages upheld.
- Ongoing royalties of 3% on US sales of certain infringing GlaxoSmithKline’s (LSE: GSK) Ellipta inhaled products.
- Supplemental damages based on GSK’s infringing sales of about $10.5 million.
- Pre-judgment interest at the prime rate of approximately $6.7 million.
“The judge’s post-motions ruling further validates Vectura’s original decision to pursue this action with GSK. We will always take action to protect and defend our intellectual property and we will provide further updates on this matter in due course,” commented Vectura’s chief financial officer and interim chief executive Paul Fry.
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