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Biotech / Medical : Cambridge Antibody Technology Group
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To: Jongmans who started this subject3/26/2003 6:03:24 AM
From: nigel bates  Read Replies (1) of 625
 
I'm not happy on this. I feel that CAT been less than frank with shareholders on the Humira royalty issue.
Message 18754640
CAT's chances of success, however, receded as it revealed that U.S. partner Abbott Laboratories Inc wanted to use some royalties due to CAT in order to pay third parties. CAT shares tumbled 12.3 percent to a new three-year low of 376p.
CAT is contesting the issue but Chief Executive Peter Chambre told Reuters that, if Abbott prevailed, royalty income from arthritis drug Humira could fall from mid single digits to low single digits. CAT is due to receive first payments from Abbott in October.
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