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Veridex reigns in Immunicon

This article was originally published in The Gray Sheet

Executive Summary

Diagnostics maker Immunicon lost its bid to end a 20-year exclusive marketing agreement with Johnson & Johnson/Veridex March 3, when the American Arbitration Association found that Veridex did not fault on its agreement to use its "best efforts" to market Immunicon's CellSearch circulating tumor cell assay, as Immunicon had alleged (1"The Gray Sheet" June 11, 2007, p. 10). Veridex also triumphed on its counterclaim that Immunicon was in "material breach" of the contract and was awarded $304,013. CellSearch is FDA-cleared to predict progression-free and overall survival in patients with metastatic breast, colorectal or prostate cancers
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