TRB Chemedica Release: Paris Court Will Rule on the Distribution Rights for Gilead Sciences, Inc. Products in Switzerland
GENEVA, Switzerland, October 23 /PRNewswire/ -- TRB CHEMEDICA INTERNATIONAL S.A. has issued legal proceedings against GILEAD SCIENCE LIMITED in a dispute over the distribution rights of their products Viread(TM), Hepsera(TM), Truvada(TM) and Emtriva(TM) for Switzerland.
TRB CHEMEDICA INTERNATIONAL, a small, family-owned Swiss pharmaceutical company based in Geneva, was granted exclusive rights by GILEAD in 2003 to hold the regulatory approvals with related reimbursements and to distribute their products in Switzerland.
Through substantial investment in scientific support and promotion and an efficient distribution structure, TRB CHEMEDICA INTERNATIONAL achieved sales of SFr. 25 million in 2006.
In addition, TRB CHEMEDICA INTERNATIONAL became the top performer among all of GILEAD's European distributors.
In 2006, GILEAD incorporated a subsidiary in Switzerland, and announced their intention to early terminate the distribution agreements with TRB CHEMEDICA INTERNATIONAL which were contracted to end on 31 December 2010. TRB CHEMEDICA INTERNATIONAL disputed this position, expressing the view that such an early termination would be unlawful.
However, GILEAD terminated the distribution agreements in June 2007 for the end of 2007.
As a consequence, TRB CHEMEDICA INTERNATIONAL will lose a substantial part of its turnover and be obliged to lay off staff, something that has never happened during the 25 years of the company's existence.
TRB CHEMEDICA INTERNATIONAL has now applied to the competent court in Paris, France to rule on the unlawful early termination of the agreements by GILEAD and to compensate TRB CHEMEDICA INTERNATIONAL for the damage caused estimated at SFr. 12 million.
giuseppe.novelli@trbchemedica.com
CONTACT: G. G. Novelli, Director International Corporate Affairs, TRB
Chemedica International S.A., TRB Chemedica International S.A., 12 rue
Michel-Servet, CH - 1211 Geneva 12., Switzerland
giuseppe.novelli@trbchemedica.com, Tel. +41-22-703-49-00,
Tel.+41-22-703-49-20 (Dir.), Fax +41-22-703-49-01