News Israel today

latest news from Israel in english

Russia’s Supreme court ordered the Israel Corporation Teva 23 million shekels

Judicial Board on economic disputes of the Supreme court while considering the conflict between the Israeli company Teva Pharmacеutical Industries Limited and its Russian distributor of the company «Biotek», ruled in favor of the Israelis.

The website notes that, according to lawyers, the judgement of the Supreme court is unprecedented for the Russian law.

The court decided to collect with the Israeli company losses «Biotech» and lost profits in the amount of 408.375.000 rubles (about 23 million NIS). Agreeing with the arguments «Biotech» that the Israeli company violated the terms of the agreement signed in 2010, unlawfully denying the foreign partner in the supply of the medicinal product Copaxone-Teva manufactured by Teva, said «Pharmaceutical Bulletin».

In 2013, the Federal Antimonopoly service of the Russian Federation has made to the Israeli group Teva warning due to the delayed supply of the drug Copaxone, intended for the treatment of multiple sclerosis.

In 2010, Israeli company, which is monopolist on this medicine, signed an agreement with «Biotek». However, in 2013, Teva has decided to distribute the drug through its subsidiary LLC «Teva», refusing to cooperate with its Russian partner. As a result the subsidiary company Teva has won a government tender for 4.5 billion rubles.

In the same year, the company «Biotek» has addressed in Federal Antimonopoly service. However, the warning received from the Antimonopoly service, was ignored by the Israeli company.

The representative of the company «Biotek», lawyer Alexander Karelin said that «before signing the agreement with Teva «Biotek» has made significant investments, by establishing a special line under the «Copaxone», as «Biotek» was the packer of the drug in end-consumer packaging. In such packaging the drug received by the patients with multiple sclerosis». Therefore, after decision of the FAS the company «Biotek» addressed the court demanding compensation for their losses.

The lawsuit was filed in the amount of 408 million rubles, which the company considered a loss of profits. Their losses of the company calculated as unearned bonus for volume orders. The court of cassation did not agree with this method of calculation and denied recovery of lost profits. But in October it came to judicial Board on economic disputes of the Supreme court, which ruled on collecting from Teva the entire amount claimed by the company «Biotek».

Editorial asked for clarification to the Department on public relations of the Teva group, which produced the response that «the company refrains from commenting».

Russia’s Supreme court ordered the Israel Corporation Teva 23 million shekels 04.12.2015

Поделиться в соц. сетях

Опубликовать в Google Buzz
Опубликовать в Google Plus
Опубликовать в LiveJournal
Опубликовать в Мой Мир
Опубликовать в Одноклассники
Latest news from Israel in english © 2010-2015
38 queries