FDAnews Drug Daily Bulletin

PDI SUES CELLEGY FOR BREACH OF CONTRACT

Dec. 5, 2005
A A

Cellegy Pharmaceuticals Inc., developer of women's health products, on Friday said PDI Inc. is charging the company with breach of contract in a lawsuit seeking $6.4 million in damages. Saddle River, N.J.-based PDI Inc., which provides pharmaceutical sales and marketing services to drug makers, alleges Cellegy breached its obligations under an April settlement. PDI told Cellegy it immediately owes $2.9 million under a secured promissory note and another $3.5 million, plus default interest, under a non-negotiable convertible senior note.

Forbes (http://www.forbes.com/home/feeds/ap/2005/12/02/ap2365544.html)