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Nabi Biopharmaceuticals (NABI) Announces Withdrawal of Biotest Pharmaceuticals's Indemnification Claim


6/1/2009 9:29:40 AM

ROCKVILLE, Md., June 1, 2009 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI) today announced that Biotest Pharmaceuticals Corporation has withdrawn and released a claim representing $50.4 million of the original $56 million indemnification claims made on March 31, 2009 against Nabi, and together with Nabi has instructed the escrow agent to release $4.5 million of the funds held in escrow to support indemnification claims. The withdrawn claim related to a contract assigned to Biotest when it purchased our biologics business unit in 2007.

Read at GlobeNewswire


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