US District Court Dismisses Abbott Laboratories' Litigation Against Takeda Pharmaceutical.Tokyo, Japan, Mar 2, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) ) - Takeda Pharmaceutical announced on March 2 that the US District Court in Chicago dismissed a legal action launched by Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. against Takeda Pharmaceutical in 2005. Abbott claimed that Takeda Pharmaceutical had unjustly earned profits from its supply of lansoprazole lansoprazole /lan·so·pra·zole/ (lan-so´prah-zol) a proton pump inhibitor used to inhibit gastric acid secretion for the treatment of duodenal or gastric ulcer, gastroesophageal reflux disease, and hyperchlorhydria. to TAP Pharmaceutical Product, a joint venture company between Abbott and Takeda. Further, Abbott alleged that Takeda would have to pay a portion of its profits to Abbott. The US District Court, however, ruled on February 24 that Abbott must file a lawsuit lawsuit: see procedure; tort. in Japan in line with its existing agreement with Takeda and TAP; accordingly the Court dismissed the action by Abbott. Copyright [c] 2006 Japan Corporate News Network. All rights reserved. |
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