News today that the former owners of the patent covering the product Mirvaso have sued Galderma over a contract dispute. The 5 former owners of Sansrosa say that a contract error will cost them $20m.
Sansrosa, who was then owned by Collagenex was sold to Galderma in 2008.
Galderma asserts a group of patents protect its Mirvaso product from generic competition. The former owners of the patents acquired via the purchase of Collagenex are in dispute as to the ongoing payments that should result.
Mirvaso is thought to be a $USD 100m product.
Galderma Sued Over Patent Sale Agreement For Skin Drug
Law360, Philadelphia (August 06, 2014, 4:10 PM ET) — Five former shareholders of a pharmaceutical company that held patent rights for skin medication Brimonidine have sued current rights holder Galderma Laboratories LP in Pennsylvania state court, arguing the company refuses to correct a contractual error they claim will cost them $20 million in payouts.
The former shareholders in SansRosa Pharmaceutical Development Inc. said in a complaint Monday that while they were supposed to receive payments until the patents on the drug marketed as Mirvaso expired, both parties miscalculated the end date of the payments[article extract, subscription required]
