An arbitration tribunal sided with neither Radius Health Inc. nor Ipsen Pharma S.A.S. in a dispute over a licensing deal.
Ipsen Pharma initiated the arbitration proceedings against Waltham, Mass.-based Radius in the International Chamber of Commerce's International Court of Arbitration in October 2016, seeking claims with a monetary value of about €50 million.
Ipsen accused Radius of breaching certain parts of the companies' license deal regarding osteoporosis drug abaloparatide, including the French drugmaker's right to market the therapy in France and Japan.
Radius denied the claims, noting instead that Ipsen's option to market the therapy in those two markets had expired. Radius also said Ipsen breached the deal by allowing some patents to expire and by claiming to sell certain manufacturing rights to a third party.
The arbitration tribunal found that Radius did not breach Ipsen's right to elect to co-promote abaloparatide in France but also found that Radius breached its obligation to provide Ipsen with certain knowledge for use in Japan. The tribunal also held that neither party prevailed and ordered each of the companies to bear its own costs and expenses under the arbitration.
As a result of the decision, the tribunal ordered Radius to pay Ipsen $10 million as well as $5 million if abaloparatide gets marketing approval in Japan and a fixed royalty based on net sales of abaloparatide in Japan.
Meanwhile, Radius said the decision does not affect its rights under the license deal with Ipsen or under its license deal with Teijin Ltd. for abaloparatide in Japan.