Molecular Biosystems, Shionogi deal

The companies exchanged notices of breach of their 1988 license for MB’s Albunex ultrasound imaging agent. The parties have been unable to agree on terms for cancellation of the agreement. MB’s breach notice claims that Shionogi violated its obligations to diligently pursue the development and distribution of Albunex in Japan, Taiwan and South Korea. Shionogi’s notice claims that MB failed to supply product that met adequate quality standards. ...