Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Advertise
  • SUBSCRIBE

Spectrum Pharma Wins $4.3M in Arbitration Award in Dispute With Cell Therapeutics Inc.

By Pharmaceutical Processing | May 26, 2009

IRVINE, Calif. (AP) — Spectrum Pharmaceuticals Inc. said Tuesday it was awarded just under $4.3 million as an arbitration award in its ongoing dispute with Cell Therapeutics Inc. over joint venture expenses. In February, Seattle-based Cell Therapeutics exercised its option to sell its half of a stake in the cancer drug Zevalin to Spectrum for $18 million. The companies were partners on Zevalin and formed a 50-50 joint venture called RIT Oncology LLC in an effort to boost sales of the drug. The drug treats non-Hodgkin’s lymphoma, a cancer affecting the lymph and immune system. Spectrum said the arbitration award calls for releasing $3.5 million from an escrow account and for Cell Therapeutics to immediately pay $776,454 through a wire transfer. Under the deal, the arbitration award is final and binding, Spectrum said.

Related Articles Read More >

These are the logos of Otsuka Medical and ICU Medical.
ICU Medical, Otsuka Pharmaceutical Factory launch joint IV supply chain venture
Amgen
Amgen to spend $900M to expand U.S. biopharma manufacturing
Roche
Roche to invest $50B in U.S. over next five years
Thermo Fisher Scientific
Thermo Fisher to invest $2B on U.S. manufacturing
“ppw
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news, technologies, and developments in Pharmaceutical Processing.

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Pharmaceutical Processing World
  • Subscribe to our E-Newsletter
  • Contact Us
  • About Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index
  • R&D 100 Awards

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Advertise
  • SUBSCRIBE