SciClone Pharmaceuticals Announces Final Settlement of Stockholder Derivative Litigation
(firmenpresse) - FOSTER CITY, CA -- (Marketwire) -- 12/15/11 -- SciClone Pharmaceuticals, Inc. (NASDAQ: SCLN) today announced that the California Superior Court for the County of San Mateo has granted final approval of a settlement reached by the parties to the consolidated derivative lawsuits against certain of its current and former directors and officers of SciClone Pharmaceuticals, and against SciClone as a nominal defendant.
In summary, the final settlement provides for the litigation to be dismissed and for the Company to adopt certain governance measures. In addition, the settlement provides for the payment of attorney's fees to counsel for the plaintiffs, and SciClone's insurers to pay for substantially all such fees. For additional details regarding the litigation and the settlement terms, please see SciClone's press release dated October 12, 2011.
SciClone Pharmaceuticals is a revenue-generating, profitable, specialty pharmaceutical company with a substantial commercial business in China and a product portfolio of therapies for oncology, infectious diseases and cardiovascular, urological, respiratory, and central nervous system disorders. SciClone's ZADAXIN® (thymalfasin) is approved in over 30 countries and may be used for the treatment of hepatitis B (HBV), hepatitis C (HCV), as a vaccine adjuvant, and certain cancers according to the local regulatory approvals. Besides ZADAXIN, SciClone markets nearly 20 mostly partnered products in China, including Depakine®, the most widely prescribed broad-spectrum anti-convulsant in China; Tritace®, an ACE inhibitor for the treatment of hypertension; Stilnox®, a fast-acting hypnotic for the short-term treatment of insomnia (marketed as Ambien® in the US); and Aggrastat®, a recently-launched interventional cardiology product. SciClone is also developing SCV-07 in a phase 2b trial for the delay to onset of oral mucositis in patients with head and neck cancer. SciClone is also pursuing the registration of several other therapeutic products in China. SciClone is headquartered in Foster City, California. For additional information, please visit .
Gary Titus
Chief Financial Officer
650.358.3456
Ana Kapor
Investors/Media
650.350.4825
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Datum: 15.12.2011 - 12:00 Uhr
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News-ID 97340
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FOSTER CITY, CA
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Drugs
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