Siga Must Pay Total of $194 Million in Smallpox-Drug Case
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Siga Technologies Inc., maker of a smallpox drug to counter biological attacks, was ordered by a judge to pay more than $194 million to partner PharmAthene Inc. in a dispute over the medicine that prompted Siga to seek bankruptcy protection last year.
Delaware Chancery Court Judge Donald Parsons today added more than $81 million in interest charges, as well as legal fees and costs, to the $113 million he ordered Siga to pay PharmAthene in a Jan. 7 decision in the contract fight over the drug Arestvyr. The judge concluded Siga executives breached their obligation to negotiate a licensing agreement for the smallpox medicine in good faith.