Insmed Provides Update Concerning Virginia Unfair Competition Litigation
05 Octobre 2006 - 5:41PM
PR Newswire (US)
RICHMOND, Va., Oct. 5 /PRNewswire-FirstCall/ -- Insmed Incorporated
(NASDAQ:INSM) announced that the U.S. District Court for the
Eastern District of Virginia granted in part Insmed's motion to
dismiss unfair competition claims brought against Insmed by
Tercica, Inc. In a ruling yesterday, Chief United States District
Judge James R. Spencer narrowed the scope of Tercica's lawsuit
against Insmed. In dismissing portions of the claims brought by
Tercica, the Court found areas in which Tercica had not met its
burden of establishing that the alleged statements made by Insmed
constituted "false advertising" or violated Virginia law. While the
court held that a number of Tercica's other factual allegations, if
proven, would state claims for false advertising under federal and
California law, in comments at the September 9 hearing, Judge
Spencer noted that he felt "most if not all" of Tercica's case
"could go out on summary judgment." About IPLEX IPLEX is approved
in the United States as the only once daily treatment for children
with short stature associated with severe primary IGF-I deficiency
(Primary IGFD). IPLEX, a complex of recombinant human IGF-I and its
binding protein IGFBP-3 (rhIGF-I/rhIGFBP-3), is the only
FDA-approved IGF-I replacement therapy that also replaces deficient
IGFBP-3 in these patients. The drug, which was launched in the
second quarter of 2006, is also being investigated for various
other indications with unmet medical needs, including severe
insulin resistance, myotonic muscular dystrophy and HIV Associated
Adipose Redistribution Syndrome (HARS). For more information about
IPLEX please go to http://www.go-iplex.com/. About Insmed Insmed is
a biopharmaceutical company focused on the development and
commercialization of drugs for the treatment of metabolic diseases
and endocrine disorders with unmet medical needs. For more
information, please visit http://www.insmed.com/. Forward Looking
Statements Statements included within this press release, which are
not historical in nature, may constitute forward-looking statements
for the purposes of the safe harbor provided by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include, but are not limited to,
statements regarding the pending litigation and or future ability
to conduct our business as now conducted and as it is currently
proposed to be conducted. Such forward-looking statements are
subject to numerous risks and uncertainties, including but not
limited to the uncertainty of the outcome of any litigation with
Tercica, the risk that product candidates may fail in the clinic or
may not be successfully marketed or manufactured, the company may
lack financial resources to complete development of product
candidates or the FDA or other regulatory agencies may interpret
the results of our studies differently than we have. We can give no
assurances that we would be successful in any litigation or that
such litigation would not have a material adverse effect on our
business, financial condition and results of operation.
Furthermore, we may not be able to afford the expense of defending
against such a claim. As a result of these and other risks and
uncertainties, actual results may differ materially from those
described in this press release. For further information with
respect to factors that could cause actual results to differ from
expectations, reference is made to reports filed by the Company
with the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended. DATASOURCE: Insmed Incorporated
CONTACT: Media, Kathy Jeavons of Ketchum Public Relations,
+1-202-835-7260, or ; or Investors, Tim Ryan of The Trout Group,
+1-212-477-9007 x24, or , both for Insmed Incorporated Web Site:
http://www.insmed.com/ http://www.go-iplex.com/
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