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ARTICLE | Company News

Anacor, Valeant Pharmaceuticals infectious news

October 21, 2013 7:00 AM UTC

An arbitrator awarded Anacor $100 million in damages as part of a contract dispute with Valeant. The dispute covers a 2004 deal between Anacor and Dow Pharmaceutical Sciences Inc., under which Dow was providing services to help Anacor develop its topical antifungal agent tavaborole. Valeant - which is developing efinaconazole, a competitor to tavaborole - acquired Dow Pharmaceutical in 2008. Anacor was seeking damages of at least $215 million plus injunctive relief. The company said it expects a court to confirm the damages award before year end. At June 30, Anacor had $45.8 million in cash. ...