"Biota and GSK conclude Litigation through Mediation"
What has come of all this?
As quoted from Biotech Daily (August 2008)
Glaxosmithkline agreed to establish senior executive liaison with Biota, to support the Relenza franchise.
Mr Grant said the board’s objectives in the litigation were to have Glaxosmithkline restore Relenza to an acceptable position in world markets...
In the board’s view, a key objective of the litigation - the revival of Relenza - was underway.
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Also, from the Biota ASX release (July 2008):
"Mr Grant added that Biota can now concentrate on...furthering its valuable corporate partnerships, including with GSK."
and
"Biota’s CEO Peter Cook welcomed the comments by Andrew Witty and looked forward to re-establishing and strengthening Biota’s long-standing relationship with GSK."
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Looking back, its all been brilliant.
GSK have certainly turned things around since the settlement and have demonstrated their committment to Biota and Relenza in the best way possible - royalty revenue.
GSK, on behalf of Shareholders, I applaud you.
PC, on behalf of Shareholders, yes, it has certainly been a fantastic 4 years.
BTA Price at posting:
67.0¢ Sentiment: Buy Disclosure: Held
