SpePharm asserts it will protect SpeBio’s rights

SpePharm is determined to protect the rights of SpeBio, a joint venture between the firm and BioAlliance, it has announced.

In 2007, SpePharm and BioAlliance signed an agreement to market Loramyc in all European countries, apart from France.

However, the former believed the latter had “unrealistic” expectations of the sales potential of the drug and could now file a claim against BioAlliance for allegedly terminating the agreement wrongfully.

SpePharm intends to request supposed financial damages and losses of 35 million euros against BioAlliance.

Jean-Francois Labbe, chief executive officer of the former, explained the company had tried to discuss the issue with BioAlliance to find a practical solution, but instead it had lost the money invested in the product.

“SpePharm is determined to protect its and SpeBio’s rights and to receive a fair financial compensation using all possible legal means for the damage caused by BioAlliance to both companies,” he remarked.

Largely focussed on oncology, haematology and critical care, SpePharm’s corporate strategy is based upon obtaining the licensing rights to products for hospitals and specialists.