Diagnostic test maker Quidel (QDEL +4.6%) is up on average volume in apparent response to unconfirmed reports that it has prevailed in its appeal of a lower court ruling allowing Beckman (DHR +0.7%) to sell certain Quidel-licensed tests directly to its customers instead of sourcing them from Quidel per their contract.
The companies have been in a legal dispute for ~two years over the matter. In December 2018, a California court granted a stay on Beckman’s motion for summary judgement.
The timeline appears too brief for an announcement from the court since the appeal started a little over two weeks ago. It should be ~90 days before the court reports its decision.
Update: According to Bloomberg, the appeals court in California has vacated the lower court ruling allowing Beckman to sell the tests directly.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.