BIOTA VALUES CLAIM AGAINST GSK AT A$308 TO A$430 MILLION

Biota Holdings Limited announced today its Particulars of Loss and Damage in its suit against GlaxoSmithKline (GSK) for failing to support Biota's influenza drug, Relenza. The damages assessment was filed with the Victorian Supreme Court in Australia and estimates Biota's losses in the range of A$ 308-430 million (US$ 234-326 million). "We remain very confident about the strength of our case," said Biota Chairman, John Grant. "This damages assessment amplifies the importance of the case for Biota."

PharmaLive (http://www.medadnews.com/News/index.cfm?articleid=259619)