BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

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


11/4/2009 8:40:15 AM

ROCKVILLE, Md., Nov. 3, 2009 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI) today announced that Biotest Pharmaceuticals Corporation has withdrawn the claim and agreed to release the remaining $5.7 million of the original $56 million indemnification claim made on March 31, 2009 against Nabi. Earlier this year, Biotest also withdrew a $50.4 million indemnification claim. This withdrawal settles the last of the outstanding indemnification claims made by Biotest in March relating to assets transferred to Biotest as part of Nabi's sale of its biologics business unit to Biotest in December 2007. Together with Nabi, Biotest will instruct the escrow agent to release $5.7 million of the remaining funds held in escrow to support indemnification claims.

Read at GlobeNewswire

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES