GENEVA, Switzerland, Oct. 23 /CNW/ - TRB CHEMEDICA INTERNATIONAL S.A. has
issued legal proceedings against GILEAD SCIENCE LIMITED in a dispute over the
distribution rights of their products Viread(TM), Hepsera(TM), Truvada(TM) and
Emtriva(TM) for Switzerland.
TRB CHEMEDICA INTERNATIONAL, a small, family-owned Swiss pharmaceutical
company based in Geneva, was granted exclusive rights by GILEAD in 2003 to
hold the regulatory approvals with related reimbursements and to distribute
their products in Switzerland.
Through substantial investment in scientific support and promotion and an
efficient distribution structure, TRB CHEMEDICA INTERNATIONAL achieved sales
of SFr. 25 million in 2006.
In addition, TRB CHEMEDICA INTERNATIONAL became the top performer among
all of GILEAD's European distributors.
In 2006, GILEAD incorporated a subsidiary in Switzerland, and announced
their intention to early terminate the distribution agreements with TRB
CHEMEDICA INTERNATIONAL which were contracted to end on 31 December 2010. TRB
CHEMEDICA INTERNATIONAL disputed this position, expressing the view that such
an early termination would be unlawful.
However, GILEAD terminated the distribution agreements in June 2007 for
the end of 2007.
As a consequence, TRB CHEMEDICA INTERNATIONAL will lose a substantial
part of its turnover and be obliged to lay off staff, something that has never
happened during the 25 years of the company's existence.
TRB CHEMEDICA INTERNATIONAL has now applied to the competent court in
Paris, France to rule on the unlawful early termination of the agreements by
GILEAD and to compensate TRB CHEMEDICA INTERNATIONAL for the damage caused
estimated at SFr. 12 million.
For further information:
For further information: G. G. Novelli, Director International Corporate
Affairs, TRB Chemedica International S.A., TRB Chemedica International S.A.,
12 rue Michel-Servet, CH - 1211 Geneva 12., Switzerland,
email@example.com, Tel. +41-22-703-49-00, Tel.+41-22-703-49-20
(Dir.), Fax +41-22-703-49-01