Molecular Biosystems of San Diego has settled a dispute with Shionogi& Co. of Osaka, Japan, over Asian distribution of MBI's Albunexultrasound contrast agent (SCAN 3/27/96). MBI has agreed to payShionogi $3 million now and another $5.5 million over
Molecular Biosystems of San Diego has settled a dispute with Shionogi& Co. of Osaka, Japan, over Asian distribution of MBI's Albunexultrasound contrast agent (SCAN 3/27/96). MBI has agreed to payShionogi $3 million now and another $5.5 million over the nextthree years to reacquire licensing rights in the Asia-Pacificregion.
Shionogi is the second regional licensee to reject rights to Albunex,which has had a rocky launch. Late last year, Norwegian contrastdeveloper Nycomed turned over to MBI the European rights to Albunex,which is known in Europe as Infoson (SCAN 3/13/96).
Sales of Albunex in Japan were slower than anticipated since theproduct was approved there in 1993. In their dispute, MBI claimedthat Shionogi did not diligently pursue the development and distributionof Albunex in its territory, while Shionogi countered with claimsthat MBI supplied it with batches of Albunex that were of inferiorquality.
MBI has been actively searching for a new licensee to handle Asia-Pacificsales of Albunex, according to the company.
