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Biotech / Medical : Emisphere -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (218)	1/27/2004 10:14:38 PM
From: hmpa	Read Replies (1) \| Respond to of 272

biz.yahoo.com EMIS > SEC Filings for EMIS > Form 8-K on 27-Jan-2004 All Recent SEC Filings Form 8-K for EMISPHERE TECHNOLOGIES INC -------------------------------------------------------------------------------- 27-Jan-2004 Other Events ITEM 5. OTHER EVENTS. On December 2, 2003, Emisphere Technologies, Inc. (the "Company") was served with a Complaint in an action brought by Eli Lilly and Company ("Lilly") in the United States District Court for the Southern District of Indiana, Indianapolis Division, seeking (1) a declaratory judgment declaring that Lilly is not in breach of its agreements with the Company concerning oral formulations of recombinant parathyroid hormone (PTH) and (2) an order preliminarily and permanently enjoining the Company from terminating those agreements. Lilly alleges in its Complaint that Lilly was responding to a letter received from Emisphere dated September 26, 2003 demanding a milestone payment that was due Emisphere, and a further demand that Lilly assign all ownership rights in a certain patent application published on September 4, 2003 with the World Intellectual Property Organization (WO 03/072195). On January 22, 2004, the Company filed an answer in the action, asserting affirmative defenses and counterclaims for patent infringement, unfair competition under the Lanham Act and breach of contract. The Company alleges that Lilly filed certain patent applications relating to the use of Emisphere proprietary technology in combination with GLP 1 and various GLP 1 analogues, in violation of a License Agreement between Lilly and the Company dated April 7, 1998, and a Research Collaboration and Option Agreement between Lilly and the Company dated June 8, 2000 (collectively, the "Agreements"), and that the activities disclosed in such applications infringe upon the Company's patents. The Company is also alleging that Lilly has breached the Agreements by failing to make a milestone payment, as required upon the completion of Oral PTH Product Phase I studies. The Company is demanding that Lilly be preliminarily and permanently enjoined and restrained from making, using, selling, disclosing, licensing, transferring or otherwise misappropriating or commercializing the Emisphere technology and patents; and that Emisphere be awarded damages for Lilly's patent infringement and breach of contract; and that Lilly pay to the Company the milestone payment described above.