Anacor, Valeant Pharmaceuticals sales and marketing update

Valeant said it will not launch efinaconazole to treat onychomycosis until after its September arbitration hearing to resolve an inherited breach of contract dispute with Anacor. Valeant said it received notice last October that Anacor was commencing arbitration related to a March 2004 master services agreement between Anacor and Dow Pharmaceutical Sciences Inc. Under the deal, Dow provided services in connection with Anacor's development of its topical antifungal agent tavaborole, a competitor to efinaconazole. Anacor has asserted claims against Dow, which Valeant acquired in December 2008, for breach of contract, breach of fiduciary duty, intentional interference with prospective business advantage and unfair competition. Anacor is seeking damages of at least $215 million. Anacor said it does not know why Valeant is postponing the launch. Valeant could not be reached (see BioCentury, Dec. 15, 2008). ...