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As previously disclosed, on December 7, 2022, Tricida, Inc. (“Tricida”) received notice from Patheon Austria GmbH & Co KG (“Patheon”) alleging that Tricida was in material breach of the Manufacturing and Commercial Supply Agreement, effective October 4, 2019 (as amended by amendment no. 1 dated March 30, 2021, amendment no. 2 dated August 26, 2021, amendment no. 3 dated July 1, 2022 and amendment no. 4 dated September 15, 2022, collectively the “Agreement”) between Tricida and Patheon. The notice also purported to terminate the Agreement and sought payment for additional amounts and damages that Patheon claims are now due to it under the Agreement and applicable law.
On December 19, 2022, Tricida received an additional letter from Patheon referencing the purported termination notice from December 7, 2022 and alleging that certain amounts, totaling approximately €140 million euros, are currently due to Patheon under the Agreement and applicable law.
Tricida is continuing to assess the validity of the termination notice and its options under the Agreement and has not yet made a determination as to the purported termination of the Agreement or Patheon’s other claims.
Posted In: TCDA
