Gensia Sicor Files Lawsuit Against American
26.04.1999, 14:54
Pharmaceutical Partners
IRVINE, Calif. (PROTEXT) - Gensia Sicor Inc. (Nasdaq: GNSA)
today announced that its wholly owned subsidiary, Gensia Sicor
Pharmaceuticals, Inc., filed a lawsuit on April 23, 1999 in the
Superior Court of California for Orange County against American
Pharmaceutical Partners ("APP") for breach of contract, breach of
the implied covenant of good faith and fair dealing, unfair
competition and declaratory relief. The suit alleges that APP has
breached a distributorship agreement for certain Gensia Sicor
Pharmaceuticals products by, among other things, acquiring and
operating a business which competes with Gensia Sicor
Pharmaceuticals with respect to some of the same products. The
Company is seeking damages in excess of $10 million in addition
to a declaration that the Company has no obligation or liability
to APP.
Gensia Sicor Inc. is a vertically integrated pharmaceutical
company with proven expertise in the development, manufacturing
and marketing of injectable pharmaceuticals and in the production
of specialty bulk drug substances utilizing synthesis or
fermentation. The company is focused on the worldwide oncology
and injectable pharmaceutical markets. Gensia Sicor's commercial
pharmaceutical businesses include Gensia Sicor Pharmaceuticals,
Inc., a California-based manufacturer and marketer of multisource
injectable drugs, SICOR-Societa Italiana Corticosteroidi S.p.A.
and Diaspa S.p.A., both of Milan Italy, and Sicor de Mexico, S.A.
de C.V. in Toluca, Mexico all which produce specialty bulk drug
substances, and Lemery, S.A. de C.V. in Mexico City which
manufactures injectable and oral finished multisource drug
products. Gensia Sicor's company offices are located in Irvine,
CA.
This press release contains forward looking statements that
are subject to risks and uncertainties that could cause actual
results to differ materially from those set forth in the forward
looking statements, including whether Gensia Sicor's suit will be
upheld in a court of law, whether Gensia Sicor will receive any
compensatory damages and those matters set forth in the risk
factors section of Gensia Sicor's filings on Forms 10-K and 10-Q
with the Securities and Exchange Commission. These forward
looking statements represent the Company's judgment as of the
date of this press release. The Company disclaims any intent or
obligation to update these forward looking statements.
For more information on the Company, visit Gensia Sicor's new
web site at www.gensiasicor.com. News releases are also available
at no charge through PR Newswire's News On-Call fax service. For
a menu of available news releases or to retrieve a specific
release made by Gensia Sicor, call 800-758-5804, extension
354050. Please retain these numbers for future reference. ots
Original Text Service: Gensia Sicor Inc. Internet:
http://www.newsaktuell.de Contact: Laurie W. Little of Gensia
Sicor Inc., 949-455-4879; or Carolyn Bass or Jim Byers, 415-296-
7383, or Patricia Walsh or Mark Owen, 212-850-5600, all of
Morgen-Walke Associates, Inc. for Gensia Sicor Inc. Company News
On-Call: http://www.prnewswire.com/comp/354050.html or fax, 800-
758-5804, ext. 354050 Web site: http://www.gensia.com Web site:
http://www.gensiasicor.com
Subscribers please note that material bearing the slug
"PROTEXT" is not part of CTK's news service and is not to be
published under the "CTK" slug. Protext is a commercial service
providing distribution of press releases from clients, who are
identified in the text of Protext reports and who bear full
responsibility for their contents.
PROTEXT