Plus   Neg

Vectura Updates On GSK Litigation

Vectura Group plc (VEC), in an update on GSK Litigation, said the U.S. judge's post-motions ruling further validates Vectura's original decision to pursue action with GSK.

The US$89.7 million jury award to Vectura was based on a 3% royalty rate applied to US sales of GSK's infringing products from August 1, 2016 to December 31, 2018. Judge Andrews granted Vectura's motion for supplemental damages based on GSK's infringing sales from January 1, 2019 to May 16, 2019 at a 3% royalty rate, which results in approximately US$10.5m in additional damages payable to Vectura.

US District Judge Richard Andrews granted Vectura's motion for an ongoing royalty rate of 3% on U.S. sales of GSK's infringing products from May 17, 2019 to expiration of Vectura's patent in mid-2021.

Judge Andrews granted Vectura's motion for pre-judgment interest at the prime rate, compounded quarterly, which results in approximately US$6.7 million due to Vectura.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Department of Transportation says it received lesser number of complaints from consumers about airline services in August. In August, DOT received 1,712 complaints about airline service from consumers, down 1.0% from the total of 1,730 filed in August 2018 and down 8.7% from the 1,875 received... Shares of Netflix Inc. (NFLX) jumped 7% in extended trading session Wednesday after the online-video streaming giant said it added more subscribers in the third quarter after a disappointing previous quarter. The company's third-quarter earnings topped Wall Street estimates, as revenues surged 31%. Netflix... Alcoa Corp. (AA), the largest producer of aluminum in the US, Wednesday posted a wider-than-expected loss for the third quarter, reflecting a drop in revenues as well as one-time charges related to two smelters in Spain. The company also announced a "portfolio review" of its smelting and refining capacity...
Follow RTT