Brief: Adocia: previous $11.6 mln award not impacted by latest ruling in favour of Lilly

Adocia SA

23/08/2019 06:36

Aug 23 (Reuters) - Adocia SA  ADOC.PA :
    
    * Confirms that the American Arbitration Association
Tribunal dismissed all claims in second phase of arbitration
with Eli Lilly  urn:newsml:reuters.com:*:nFWN25I0RR
    * But Adocia adds that previous award of $11.6 million plus
interest to Adocia from first phase of the arbitration is not
impacted by this decision
    * Adocia says its intellectual property and financial
position remain secure
    * We are extremely surprised and disappointed by the
Tribunal’s decision to dismiss our claims. Nevertheless, Adocia
believes it was our responsibility to defend the rights of our
company and shareholders," said Adocia Chairman and CEO Gérard
Soula.
    * "We remain confident in the value of our strong
products portfolio. We stand in a stable financial position and
we will benefit from the award from the first arbitration
ruling. This allows us to continue the development of our
pipeline products, including those in collaboration with our
partner, Tonghua Dongbao," added Soula.    

 ((sudip.kargupta@thomsonreuters.com;))