"particularly as discovery of GSK documents is not complete. Thereafter, a Court hearing is scheduled for 2 December. "
We filed suit against GSK in May 2004 as we believed we had a strong case that Relenza was not being marketed and commercialised properly. We remain of that belief. Indeed our confidence in Biota’s legal position has continued to improve during the process. Our case will be heard in the Victorian Supreme Court. Our Particulars of Loss and Damage were lodged in July 2005 and we assessed the damages to Biota at between $308m and $430m. Discovery of GSK documents is progressing but slower than we, and we think the Court, anticipated by the Court. The Court is scheduled to formally review the progress of GSK’s discovery on 4 November. Mediation has been scheduled by the Court to occur in Melbourne on 9 November. While we are fully prepared for the mediation process, we are not expecting an early settlement, particularly as discovery of GSK documents is not complete. Thereafter, a Court hearing is scheduled for 2 December. Assuming there is no settlement at mediation, we are advised that the trial should be scheduled for some time in the second half of 2006.
BTA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
