Immunomedics charges Pharmacia & Upjohn with failure to create CEA-Scan marketing plan -- arbitration.
Executive Summary
IMMUNOMEDICS ALLEGES P&U FAILED TO CREATE CEA-SCAN MARKET PLAN in an arbitration proceeding over the recently approved monoclonal antibody-based diagnostic imaging agent. Immunomedics announced Aug. 27 that it is alleging breach of contract and fiduciary duty in connection with a lapsed development and licensing agreement between the companies, under which Pharmacia & Upjohn was to have made milestone payments and provided a marketing plan for CEA-Scan and other imaging products.