The Supreme Court has ruled that Lasco Distributors is entitled to J$272.9 million in its legal battle with international drugs company Pfizer.
This figure is substantially below the US$300 million Lasco claimed it was entitled to.
The figure, which was handed down by the Supreme Court on Friday, is to compensate Lasco for damages it suffered as a result of the injunction that Pfizer obtained against it. It prevented Lasco from selling a generic drug used to treat hypertension in a case that lasted more than seven years.
RJR News spoke with one of the attorneys for Lasco, Leonard Green, who described the Supreme Court award as disappointing.
“One will recall that LASCO had put forward a case by presenting credible evidence that the company is entitled to an amount in the region of 300 million US dollars to compensate it for being kept out of the market by virtue of an injunction wrongfully obtained by Pfizer. Now when a payment of 272-million Jamaican dollars is award - the company is disappointed and the company is presently contemplating what will be its next move," Green said.
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