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By Eileen Ambrose and Eileen Ambrose,SUN STAFF | May 4, 2000
Roche Diagnostics has agreed to turn over its 60 U.S. physician office customers to Igen International Inc., a move that will potentially increase Igen's revenues by $2 million annually. The agreement, announced yesterday, sent the stock of Gaithersburg-based Igen up $1.625, to $16.875 per share. Roche agreed to transfer the customers to comply with a 1998 preliminary injunction issued by the U.S. District Court in Maryland, Igen said. The move is part of a larger, ongoing legal battle between the two companies over customers and royalties.
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BUSINESS
By Tricia Bishop and Tricia Bishop,Sun reporter | April 5, 2007
Swiss pharmaceutical giant Roche has agreed to acquire BioVeris Corp., a Gaithersburg biotechnology business, for $600 million, the companies announced yesterday. Roche said the acquisition would help expand its diagnostics division by adding BioVeris' "electroluminescence" - or ECL - technology, which uses light emissions to help discover new drugs, monitor and diagnose diseases and identify bacteria or toxins in the environment. "In comparison with other detection technologies, ECL offers distinct advantages such as enhanced sensitivity, short incubation times and broad measuring ranges," Severin Schawn, chief executive of Roche Diagnostics, said in a statement.
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BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | February 1, 2002
Igen International Inc. said yesterday that its fiscal third-quarter loss narrowed as revenue grew and litigation costs were offset by a payment from its rival in a breach-of-contract suit, Roche Diagnostics. Based in Gaithersburg, the maker of diagnostic tests said it lost $9.2 million, or 48 cents per share, on revenue of $10.4 million. That compares with a loss of $16 millon, or $1.04 per share, on revenue of $8.5 million in the quarter that ended Dec. 31, 2000. The company said the 23 percent increase in quarterly revenue was due to increases in royalty income, product sales and contract revenue.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | July 10, 2002
Shares of Igen International Inc., the Gaithersburg-based maker of blood-testing equipment, rose yesterday after the company announced that it had made progress in recent settlement talks with Roche Diagnostics in a dispute over a licensing agreement. At one point yesterday, Igen shares were up slightly more than 17 percent after the company expressed confidence that it might eventually reach an agreement with Roche to settle the long-standing dispute. Igen shares settled back in afternoon trading before closing at $30.25, up $1.25, or 4 percent.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | August 14, 2001
A federal judge has ruled that a German pharmaceutical company breached its contract with Igen International Inc. by settling a patent infringement lawsuit with another company without Igen's permission and by failing to stop development of a competing product line. The summary judgments in favor of Igen are the latest chapter in the Gaithersburg company's 4-year-old lawsuit against Roche Diagnostics GmbH as the two companies head for a court showdown in October. Analysts said that the judge's rulings strengthen Igen's position.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | January 12, 2002
Igen International Inc.'s stock rose nearly 10.6 percent to a 52-week high of $42.15 yesterday, the day after the Gaithersburg company won a $505 million judgment against Roche Diagnostics GmbH. A federal jury in Greenbelt found Thursday that Roche Diagnostics broke a 1992 contract by underpaying royalties to Igen and by selling Igen's patented diagnostic test to markets not included in the agreement. Roche, the world's largest diagnostic testing company, plans to appeal the $505 million award to Igen, which had sales of $31.4 million in fiscal year 2001.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | July 10, 2002
Shares of Igen International Inc., the Gaithersburg-based maker of blood-testing equipment, rose yesterday after the company announced that it had made progress in recent settlement talks with Roche Diagnostics in a dispute over a licensing agreement. At one point yesterday, Igen shares were up slightly more than 17 percent after the company expressed confidence that it might eventually reach an agreement with Roche to settle the long-standing dispute. Igen shares settled back in afternoon trading before closing at $30.25, up $1.25, or 4 percent.
BUSINESS
By Tricia Bishop and Tricia Bishop,Sun reporter | April 5, 2007
Swiss pharmaceutical giant Roche has agreed to acquire BioVeris Corp., a Gaithersburg biotechnology business, for $600 million, the companies announced yesterday. Roche said the acquisition would help expand its diagnostics division by adding BioVeris' "electroluminescence" - or ECL - technology, which uses light emissions to help discover new drugs, monitor and diagnose diseases and identify bacteria or toxins in the environment. "In comparison with other detection technologies, ECL offers distinct advantages such as enhanced sensitivity, short incubation times and broad measuring ranges," Severin Schawn, chief executive of Roche Diagnostics, said in a statement.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | January 4, 2002
Roche Diagnostics should pay more than $1 billion in damages to Igen International Inc., a company Roche sought to "damage and destroy" through breach of contract, an Igen lawyer told jurors yesterday in closing arguments in the nearly 5-year- old case. As Igen Chairman and Chief Executive Officer Samuel J. Wohlstadter, members of his family and about 70 others looked on in U.S. District Court in Greenbelt, Igen lawyer Brent Gurney spent more than two hours arguing that the jury in the civil case should award $709.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | February 13, 2001
Igen International Inc., a Gaithersburg maker of biological detection systems, said yesterday that it will sell 211,900 shares of common stock for $3 million to an investment fund as part of an equity agreement that will help finance its corporate activities. Under the agreement, Acqua Wellington North American Equities Fund Ltd. will acquire with the Igen shares a stake of about 1 percent. Potentially, Igen could sell up to $60 million in stock to the investment fund over the next 28 months.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | February 3, 2002
For the past month, the shares of tiny, money-losing Igen International Inc. have traded at a daily average near $40, making them more valuable than the shares of many far larger companies - including international pharmaceutical giant Novartis AG. Even so, some analysts believe, buying a slice of the Gaithersburg-based maker of medical diagnostics should cost even more: $79, $80, even $100 a share. Why? Because its recent court victory has put Igen in a position to get far more out of Roche Diagnostics than the $505 million in damages awarded by the jury.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | February 1, 2002
Igen International Inc. said yesterday that its fiscal third-quarter loss narrowed as revenue grew and litigation costs were offset by a payment from its rival in a breach-of-contract suit, Roche Diagnostics. Based in Gaithersburg, the maker of diagnostic tests said it lost $9.2 million, or 48 cents per share, on revenue of $10.4 million. That compares with a loss of $16 millon, or $1.04 per share, on revenue of $8.5 million in the quarter that ended Dec. 31, 2000. The company said the 23 percent increase in quarterly revenue was due to increases in royalty income, product sales and contract revenue.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | January 12, 2002
Igen International Inc.'s stock rose nearly 10.6 percent to a 52-week high of $42.15 yesterday, the day after the Gaithersburg company won a $505 million judgment against Roche Diagnostics GmbH. A federal jury in Greenbelt found Thursday that Roche Diagnostics broke a 1992 contract by underpaying royalties to Igen and by selling Igen's patented diagnostic test to markets not included in the agreement. Roche, the world's largest diagnostic testing company, plans to appeal the $505 million award to Igen, which had sales of $31.4 million in fiscal year 2001.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | January 4, 2002
Roche Diagnostics should pay more than $1 billion in damages to Igen International Inc., a company Roche sought to "damage and destroy" through breach of contract, an Igen lawyer told jurors yesterday in closing arguments in the nearly 5-year- old case. As Igen Chairman and Chief Executive Officer Samuel J. Wohlstadter, members of his family and about 70 others looked on in U.S. District Court in Greenbelt, Igen lawyer Brent Gurney spent more than two hours arguing that the jury in the civil case should award $709.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | August 14, 2001
A federal judge has ruled that a German pharmaceutical company breached its contract with Igen International Inc. by settling a patent infringement lawsuit with another company without Igen's permission and by failing to stop development of a competing product line. The summary judgments in favor of Igen are the latest chapter in the Gaithersburg company's 4-year-old lawsuit against Roche Diagnostics GmbH as the two companies head for a court showdown in October. Analysts said that the judge's rulings strengthen Igen's position.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | February 13, 2001
Igen International Inc., a Gaithersburg maker of biological detection systems, said yesterday that it will sell 211,900 shares of common stock for $3 million to an investment fund as part of an equity agreement that will help finance its corporate activities. Under the agreement, Acqua Wellington North American Equities Fund Ltd. will acquire with the Igen shares a stake of about 1 percent. Potentially, Igen could sell up to $60 million in stock to the investment fund over the next 28 months.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | February 3, 2002
For the past month, the shares of tiny, money-losing Igen International Inc. have traded at a daily average near $40, making them more valuable than the shares of many far larger companies - including international pharmaceutical giant Novartis AG. Even so, some analysts believe, buying a slice of the Gaithersburg-based maker of medical diagnostics should cost even more: $79, $80, even $100 a share. Why? Because its recent court victory has put Igen in a position to get far more out of Roche Diagnostics than the $505 million in damages awarded by the jury.
ENTERTAINMENT
By Sloane Brown | July 15, 2001
Marilyn Monroe on a subway grate, skirt billowing in its updraft. Judy Garland, Diana Ross and Frank Sinatra boogieing in neon go-go cages. A psychedelic scene from a '60s-themed flick? Naw. Just Everyman Theatre's "10th Anniversary Salute." Impersonators only fleshed out the transformation of the Charles Street theater to an old Hollywood-style cabaret -- say, the kind where Sinatra's rat pack hung out. This time, this pack included some 300 theater supporters, such as Martha Weiman, event chair; Donald Hicken, Mary Ann Masur and Steve Yeager, event committee members; Gordon Becker, Everyman board chair; Jeannie Howe, board president; Kathy Abbott, Gina B. Hirschhorn, Jonathan Melnick and Lindy Small, board members; Vincent Lancisi, Everyman artistic director; Zelig Robinson, Gordon Feinblatt partner; Dr. Gary Pushkin, Franklin Square orthopedic surgeon; Jaye Alison Moscariello, Los Angeles artist; Rhea Feikin, Maryland Public Television personality; David Kuryk, Baltimore lawyer; Julia Bush, Rosemore Inc. executive assistant; Byrl Hendler, Diversified Insurance Industries Inc. vice president; Linwood Dame, Linwood's / Due owner / chef; Mary McNally, Deutsche Banc Alex.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | May 4, 2000
Roche Diagnostics has agreed to turn over its 60 U.S. physician office customers to Igen International Inc., a move that will potentially increase Igen's revenues by $2 million annually. The agreement, announced yesterday, sent the stock of Gaithersburg-based Igen up $1.625, to $16.875 per share. Roche agreed to transfer the customers to comply with a 1998 preliminary injunction issued by the U.S. District Court in Maryland, Igen said. The move is part of a larger, ongoing legal battle between the two companies over customers and royalties.
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