BaynWallstreet

(Bloomberg) — Five years of high inflation is testing the patience of Federal Reserve officials and showcasing a split between those willing to wait before hiking interest rates and those who say time is running out.  Read More

VIENNA — An ICC Arbitral Tribunal has awarded AOP Orphan Pharmaceuticals GmbH (“AOP Health”) a total of about EUR 112 Mio in a quantum award issued in the ongoing arbitration proceedings with PharmaEssentia Corp. (“PharmaEssentia”) concerning BESREMi® (ropeginterferon alfa-2b). The award quantifies AOP Health’s damage claims for PharmaEssentia’s intentional breaches at ca. EUR 82 Mio. It also awards AOP Health ca. EUR 31 Mio plus interest as reimbursement for AOP Health overpayments made to PharmaEssentia as a result of excessive pricing in the years 2019-2022. The Tribunal thereby confirmed that PharmaEssentia has been overcharging AOP Health by up to 900% over these years. The Tribunal affirmed AOP Health’s valid set-off of the profit-sharing payments amount owed to PharmaEssentia of approximately EUR 17 Mio against AOP Health’s substantially exceeding damages claims. This means that AOP Health shall not make any payment to PharmaEssentia. Interest on AOP Health’s claims will continue to accrue until PharmaEssentia has made payment. All of PharmaEssentia’s remaining claims of the quantum stage of the proceedings were dismissed. Read More

(Bloomberg) — European stocks rose for a fourth week in a row as a stronger-than-expected earnings season and growing M&A chatter lifted regional benchmarks to fresh records. Read More