PharmAthene Inc. can reopen the record to add new financial data in its long-running dispute with Siga Technologies Inc. over the profits of a smallpox vaccine the two companies had partnered to market, the Delaware Court of Chancery ruled August 15. The court’s decision will likely push back its reconsideration of damages in the case until shortly before the end of the year.
The case had been remanded to the Chancery Court after the Delaware Supreme Court reversed a decision by Vice Chancellor Donald F. Parsons Jr. to award half of the drug’s profits to PharmAthene over 10 years. Although the Supreme Court ruled that Parsons correctly determined that Siga breached its contract with PharmAthene, the high court also held that Parsons should not have awarded damages under the theory of promissory estoppel.
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