NEW YORK/LOS ANGELES - Swiss drugmaker Novartis AG sued Amgen Inc on Thursday, accusing the U.S. biotechnology company of trying to wrongfully back out of agreements to jointly develop and market the migraine prevention drug Aimovig and keep the profits for itself.
Aimovig, which won U.S. and European approvals last year, belongs to a new class of medicines that also includes Eli Lilly and Co’s Emgality and Teva Pharmaceutical Industries Ltd’s Ajovy. Amgen, in an emailed statement, said it is seeking to terminate the collaboration agreements with Novartis and obtain damages, but termination would not be effective until the litigation is resolved.
“The program about which Amgen has complained is being terminated,” Novartis said, and the lack of a breach means Amgen’s April 2 notice terminating the collaboration agreements should be deemed void. The lawsuit seeks to enforce the companies’ collaboration agreements and declare Amgen’s purported termination void.
FILE PHOTO: An Amgen sign is seen at the company's office in South San Francisco, California in this October 21, 2013. REUTERS/Robert Galbraith/Files/File Photo
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Novartis sues Amgen over collaboration on migraine treatment AimovigSwiss drugmaker Novartis AG sued Amgen Inc on Thursday, accusing the U.S. biotec... 😎
Source: Reuters - 🏆 2. / 97 Read more »
Novartis sues Amgen over migraine treatment AimovigSwiss drugmaker Novartis AG sued Amgen Inc on Thursday, accusing the U.S. biotec...
Source: Reuters - 🏆 2. / 97 Read more »
2 drug giants are feuding over a highly successful new migraine drug, and court documents reveal how profitable the $10 billion market could beTwo drugmakers, Amgen and Novartis, have worked together for years on a new type of cutting-edge migraine drug, Aimovig. We have to work on a surgical fix for migranes. This is scar tissue from a tramatic injury causing blockage. A structural weakness in the vascular system. Maybe a stint fix. Patch it.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Novartis sues Amgen over migraine treatment AimovigSwiss drugmaker Novartis AG sued Amgen Inc on Thursday, accusing the U.S. biotec...
Source: Reuters - 🏆 2. / 97 Read more »
Novartis sues Amgen over collaboration on migraine treatment AimovigSwiss drugmaker Novartis AG sued Amgen Inc on Thursday, accusing the U.S. biotec... 😎
Source: Reuters - 🏆 2. / 97 Read more »
Biogen SMA drug price, Novartis estimates for its treatment far too high - U.S. groupBiogen Inc should slash the price of its spinal muscular atrophy (SMA) drug, and...
Source: Reuters - 🏆 2. / 97 Read more »
2 drug giants are feuding over a highly successful new migraine drug, and court documents reveal how profitable the $10 billion market could beTwo drugmakers, Amgen and Novartis, have worked together for years on a new type of cutting-edge migraine drug, Aimovig. We have to work on a surgical fix for migranes. This is scar tissue from a tramatic injury causing blockage. A structural weakness in the vascular system. Maybe a stint fix. Patch it.
Source: BusinessInsider - 🏆 729. / 51 Read more »