Abbott’s suit unTAPped
A Chicago federal court has dismissed Abbott's lawsuit against Takeda concerning ingredient supply for heartburn and GERD therapy Prevacid. Abbott alleged that Takeda diverted profits from the firms' joint venture TAP (1"The Pink Sheet" July 4, 2005, In Brief). The court held that Abbott could not file suit in the U.S. since the shareholder agreement for the joint venture requires litigation instituted by Abbott be filed in Japan. Abbott is considering other legal options...
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