Emcure Wins US Lawsuit Over Covid-19 Vaccine
Dec 05, 2023 20:21
A US court dismissed a lawsuit against Emcure Pharmaceuticals over alleged non-payment of royalties related to a Covid-19 vaccine technology. HDT Bio Corp, the plaintiff, had sought USD 950 million in compensation.
New Delhi, Dec 5 (PTI) A US Court has dismissed a lawsuit filed by HDT Bio Corp against Pune-based Emcure Pharmaceuticals.
A Federal court in Seattle, Washington, has dismissed the lawsuit lawsuit filed by HDT against Gennova Biopharmaceuticals, a unit of Emcure, regarding Covid-19 vaccine technology.
HDT had named Emcure as a party in the suit, alleging non-payment of royalties and demanded a compensation of at least USD 950 million.
When contacted a company spokesperson said, "The ruling vindicates our stand".
Emcure had contended in the court that the lawsuit was illegitimate and brought by HDT to compensate for its business shortcomings.
HDT Bio had alleged that the Pune-based firm had stolen its vaccine technology which it had licensed to Gennova for manufacture and distribution in India.
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