MBI and Shionogi to cancel agreement
Ultrasound contrast agent developer Molecular Biosystems of SanDiego announced last week that it has exchanged breach-of-contractnotices with its Japanese licensee, Shionogi & Co. of Osaka.MBI said that the two companies have been unable to agree on
Ultrasound contrast agent developer Molecular Biosystems of San
Diego announced last week that it has exchanged breach-of-contract
notices with its Japanese licensee, Shionogi & Co. of Osaka.
MBI said that the two companies have been unable to agree on terms
for canceling their relationship, which covers distribution of
MBI's Albunex agent in Japan, Taiwan, and South Korea. MBI claims
that Shionogi has not diligently pursued the development and distribution
of Albunex in its territory, while Shionogi claims that MBI supplied
it with batches of Albunex that fail to meet adequate quality
standards. MBI said that it will pursue another licensee for Albunex
in the territory.
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