Talecris Biotherapeutics Holdings Inc. announced today that a jury in the General
Court of Justice, Superior
Court Division, Wake County,
North Carolina, rendered a
verdict on December 13, 2010 in the amount of $37 million in favor of Plasma
Centers of America,
LLC, against its subsidiary, Talecris Plasma Resources, Inc., in a breach of
contract claim.
Talecris had a three-year Plasma Sale/Purchase Agreement
with Plasma Centers of America
under which Talecris was required to purchase plasma from plasma collection
centers built by Plasma Centers of America and approved by Talecris.
Under the terms of the agreement, Talecris had a conditional obligation to
purchase the centers for a sum determined by a formula set forth in the
agreement. Talecris provided approximately $4 million (excluding accrued
interest) in financing related to the development of such centers and advanced payments
for unlicensed plasma.
In August 2008, Talecris notified Plasma Centers of America
that they were in breach of a Plasma Sale/Purchase Agreement. Talecris terminated
the agreement in September 2008. In November 2008, Talecris filed suit in
federal court in Raleigh, North
Carolina against the G&M Crandall Limited Family Partnership
and its individual partners as guarantors of obligations of Plasma Centers of America.
Plasma Centers of America filed a parallel state
action in January 2009, alleging breach of contract by Talecris.
Talecris is evaluating its response to this verdict,
including appeal.
