QLT Announces Court Response to Motion to Dismiss and Removal of Case to Federal Court
22 Mai 2009 - 1:41AM
PR Newswire (US)
Oral Ruling Issued in Massachusetts General Hospital Lawsuit
VANCOUVER, May 21 /PRNewswire-FirstCall/ -- QLT Inc. (NASDAQ: QLTI;
TSX: QLT) announced that on May 21, 2009, the District Court of
Massachusetts ("District Court") issued an oral ruling on QLT's
Motion to Dismiss all the claims filed by the General Hospital
Corporation, doing business as Massachusetts General Hospital
("MGH") in its lawsuit against QLT. In the oral decision, the
District Court dismissed all of the claims filed by MGH except that
made under Massachusetts General Law chapter 93A, a consumer
protection law which makes "unfair or deceptive acts or practices
in the conduct of any trade or commerce" unlawful. QLT's Motion to
Dismiss was filed with the District Court on March 17, 2009. We
expect that the District Court will formally enter its ruling on
the court's docket in the near future. In the oral decision, the
District Court also dismissed MGH's motion to remand the case back
to the Superior Court of the Commonwealth of Massachusetts
("Massachusetts State Court"), where MGH had originally filed its
complaint. The decision of the District Court means that MGH can
continue its lawsuit against QLT in the District Court only on the
claim made under Massachusetts General Law chapter 93A. Under the
direction of the District Court, QLT and MGH will now begin to
schedule discovery on this claim. MGH filed its lawsuit against QLT
on February 12, 2009, in the Massachusetts State Court. In its
complaint, MGH asserted claims for breach of contract, breach of
the implied covenant of good faith and fair dealing, violation of
Massachusetts Chapter 93A Sections 2 and 11, unjust enrichment, and
for a declaratory judgment. In essence, MGH alleged that, in 1998,
it entered into a written agreement with QLT that (a) called for
QLT to pay MGH a royalty of 0.5% on sales of Visudyne(R) in the
United States and Canada, and (b) included a "most favored nations"
clause that required QLT to increase that royalty rate if QLT
entered into a license agreement with Massachusetts Eye and Ear
Infirmary ("MEEI") for certain patent rights at a higher rate. As
previously announced, MEEI was recently awarded a 3.01% royalty
rate, on worldwide sales of Visudyne, in a highly contested legal
action against QLT involving claims for unjust enrichment. MGH
alleged that the "most favored nations" clause was triggered by the
judgment on this jury verdict. QLT disagreed, and moved to dismiss
all of MGH's claims, with prejudice. QLT intends to vigorously
contest the claim remaining in this lawsuit. About QLT QLT Inc. is
a global biopharmaceutical company dedicated to the discovery,
development and commercialization of innovative therapies. Our
research and development efforts are focused on pharmaceutical
products in the field of ophthalmology. In addition, we utilize
three unique technology platforms, photodynamic therapy, Atrigel(R)
and punctal plugs with drugs, to create products such as
Visudyne(R) and Eligard(R) and future product opportunities. For
more information, visit our web site at http://www.qltinc.com/. QLT
Plug Delivery, Inc. is a wholly-owned subsidiary of QLT Inc.
Atrigel is a registered trademark of QLT USA, Inc. Visudyne is a
registered trademark of Novartis AG. Eligard is a registered
trademark of Sanofi-aventis. QLT Inc. is listed on The NASDAQ Stock
Market under the trading symbol "QLTI" and on The Toronto Stock
Exchange under the trading symbol "QLT." Certain statements
contained in this press release, which are not historical facts,
are forward-looking statements, as the term is defined in the
Private Securities Litigation Reform Act of 1995. You can identify
these forward-looking statements by QLT's use of words such as,
"expect," "plans," "estimates," "intends," "believes" and similar
expressions that do not relate to historical matters. Such
forward-looking statements are subject to risks and uncertainties
which can cause actual results to differ materially from those
currently anticipated due to a number of factors, which include,
but are not limited to, the oral ruling in QLT's Motion to Dismiss
may be reviewable, which review could result in a decision more or
less favorable to QLT, and other factors as described in detail in
QLT's Annual Information Form and Annual Report on Form 10-K,
quarterly reports on Form 10-Q and other filings with the U.S.
Securities and Exchange Commission and Canadian securities
regulatory authorities. All forward-looking statements in this
press release are made as of today, based upon information known to
QLT as of the date hereof. QLT assumes no obligation to update or
revise any of its forward-looking statements even if experience or
future changes show that indicated results or events will not be
realized. DATASOURCE: QLT Inc. CONTACT: QLT Inc. Media Contact:
Vancouver, Canada, Karen Peterson, Telephone: (604) 707-7000 or
1-800-663-5486, Fax: (604) 707-7001; The Trout Group Investor
Relations Contact: New York, USA, Christine Yang, Telephone: (646)
378-2929 or Marcy Strickler, Telephone: (646) 378-2927
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