Lasco to Appeal Damages Awarded in Pfizer Case

Lasco Distributors says it will appeal the Supreme Court order in its case with global pharmaceutical giant, Pfizer.

On Friday, the court ordered damages and interest up to November 3 of over JMD$273-million.

However, LASCO had requested USD$311-million or JMD$39-billion. The award is less than 1-percent of what LASCO was seeking. The indication was made in the Jamaica Stock Exchange company news yesterday.

The order awarding damages to LASCO was signed by Justice Viviene Harris last Friday.

The compensation case follows a Court ruling that Pfizer unjustly barred LASCO from distributing the highly sought after generic drug, Las-Amlodipine. The drug is used to treat high blood pressure.

LASCO was distributing the generic drug at a cheaper cost than Pfizer.

The Supreme Court in Jamaica and the UK-based Judicial Committee of the Privy Council had ruled that the injunction was unjust and that LASCO should be compensated for losses.

–30–