The Supreme Court has directed global pharmaceutical giant, Pfizer, and local distributors, LASCO, to agree on the amount of damages which are to be paid to LASCO based on a formula recommended by the Court.
This as the high profile dispute between both companies about an injunction which had been obtained by Pfizer against LASCO drags on.
LASCO’s Attorney, Vincent Chen, says Presiding Judge, Justice Vivienne Harris today delivered a 110-page judgement.
During that judgement she directed Attorneys for LASCO and Pfizer to arrive on a figure which Pfizer is to pay the Jamaican company.
Pfizer is contesting a USD$311-million or JMD$39-billion claim made against it by LASCO.
The compensation case follows a court ruling that Pfizer unjustly barred LASCO from selling the highly sought after generic drug, Las-Amlo-Dipine.
The drug is used to treat high blood pressure. LASCO was making the drug available at a cheaper cost than Pfizer
The Supreme Court in Jamaica and the UK-based Judicial Committee of the Privy Council have already indicated that the injunction was unjust and that LASCO should be compensated for the losses incurred.
Mr. Chen says Justice Harris today gave a deadline for attorneys for LASCO and Pfizer to agree on the amount to be paid to LASCO.
The case is being closely watched in Government circles. This, as there are potentially billions of dollars in tax revenue to be collected depending on the amount which Pfizer is ordered to pay LASCO.
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