Wockhardt Settles Litigation With Cephalon

Wockhardt Ltd and its UK subsidiaries, Wockhardt UK Holdings Ltd and CP Pharmaceuticals Ltd (CP) have settled an ongoing litigation relating to supply contract for cancer drug Trisenox with Teva Pharmaceuticals USA Inc.’s an affiliate company of Cephalon Inc.

The dispute was regarding the price charged by CP Pharmaceuticals to Cephalon.

Wockhardt’s subsidiary CP has also waived GBP 20 million of receivable from Cephalon. CP has paid GBP 23 million (Rs 188 crore) to Teva and Cephalon for final settlement of the Teva’s claims.

Wockhardt was trading higher by 2.3% at Rs 572.30 per share on Friday at 0919 hours on BSE. It hit a high of Rs 576.90 and a low of Rs 568 in the morning session.

Wockhardt Limited is a pharmaceutical and biotechnology company. Its businesses include manufacture and marketing of pharmaceutical and biopharmaceutical formulations, active pharmaceutical ingredients (APIs) and vaccines.

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