Acambis gains on positive view of Int'l Trade Commission transcripts
Shares in vaccine maker Acambis plc (ACM.L) rose as much as 9.7% this morning as transcripts from its dispute with Danish vaccine marker Bavarian Nordic over patents appeared favourable, according to a report by the Reuters News Agency.
"It's not a judgment but in the opening statement the International Trade Commission has come down on the side of Acambis saying they don't have a case to answer," analyst Jonathan Senior at Evolution Securities told Reuters.
"They're saying Bavarian's patents are not valid."
Acambis said in May it and U.S. partner Baxter had filed opposition to a European patent granted to Bavarian regarding technology used to make a weakened version of a smallpox vaccine.
US Govt contract
Acambis and Bavarian are competing for a lucrative contract to supply the vaccine to the US Government. The product is suitable for vulnerable members of the population such as the elderly.
The company said in a notice to the stock exchange that the ITC judge's initial determination on the case is expected towards the end of August.
By mid afternoon, the share price had retreated somewhat to be up just under 4% on the day at 182.50p, which values the company at almost £200m.
17th July 2006
