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Biogen Idec
Biogen Idec Announces Conclusion of Arbitration with Genentech
July 4th, 2009
Biogen Idec (Nasdaq: BIIB) announced that an arbitration panel has issued its decision concerning the Company's collaboration agreement with Genentech, Inc., reaffirming Biogen Idec's contractual right to fully participate in strategic decisions regarding the development of RITUXAN® (rituximab) and other anti-CD20 antibodies subject to the collaboration. Specifically, the arbitration panel ruled that a Joint Development Committee (JDC) comprised of three members from each company must unanimously approve a development plan for each specific indication. Based on that finding, the panel also ruled that, absent unanimous approval of the JDC, Genentech may not proceed with...
Source: Law & Health Weekly (2009-07-04)
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