AstraZeneca gets Verus suit dropped

AstraZeneca gets suit dropped

AstraZeneca Plc won dismissal of a lawsuit in which it was accused of backing out of a deal with Verus Pharmaceuticals Inc. to develop a children’s asthma drug and instead aligning with competitor Map Pharmaceuticals Inc.

Verus sued in May 2009, seeking at least $280 million in compensatory damages and $1 billion in punitive damages from AstraZeneca, the U.K.’s second-biggest drug maker. Verus claimed that once AstraZeneca entered a deal with Map, it sought to kill any competition by destroying Verus’ ability to develop the drug on its own.

“Verus’s causes of action fail to state claims for which relief can be granted,” U.S. District Judge Barbara S. Jones in Manhattan said in an Aug. 16 order dismissing the case. She didn’t rule on the merits of Verus’ accusations.