Healthcare group BTG PLC(LON:BTG) is to take a £55.3mln provision after the final ruling in its patent dispute with WellStat Therapeutics went against the UK firm.
A court in Delaware ruled that it breached the distribution agreement between the two companies over Vistogard, a chemotherapy toxicity treatment.
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Wellstat claimed BTG’s sales team for Vistogard was too small to be effective, which was upheld originally by the Court in September and reaffirmed in its final ruling.
As a result, the sales distributed agreement has ended and BTG will have to pay WellStat US$55.8mln in damages plus costs and interest.
All rights over Vistogard will be returned to WellStat as soon as practicable, BTG added.
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An appeal is being considered, but pending that the next interim results will carry a provision of £53.5mln for the Vistogard outcome.