In accord with a recent ruling, a New York federal judge throws his support to a near $16.6 million arbitrated award issued to Acorda Therapeutics Inc. Acorda Therapeutics, the American biotechnology company based in Ardsley, New York, has been in dispute with Ireland’s global biopharmaceutical company, Alkermes PLC, consequent to a bone of contention revolving around a drug used for multiple sclerosis treatment.
The judge, however, denied Acorda’s request for an additional increase in the award by $65.6 million. This additional amount was sought by Acorda as a refund for the royalties it had paid following the expiration of the patent for the drug in question.
Details around the complexities of the case including the specifics of the dispute over the medication for multiple sclerosis, the duration of the lawsuit, and other intricacies continue to be unpacked in this Law360 report.
As of now, the New York federal ruling stands as a significant litmus test, underlining arbitration over contractual disputes in the pharmaceutical sector.
It also highlights the crucial role of intellectual property rights and trademarks in healthcare and how these should be treated and respected, to avoid not only court cases but proper remuneration for innovations.
Finally, the refusal of the judge to increase the amount to cover expired patent royalties underscores the care with which companies must treat their intellectual property and the contracts formulated around them.