London – February 10, 2022 – A transatlantic Cooley team successfully represented biopharmaceutical company IQVIA in a breach of contract and unfair business practices case in which the High Court of Justice of England and Wales rendered a lengthy and detailed verdict in favor of IQVIA on all claims and counterclaims. Partners Mike Klisch, Henry Stewart, Laurence Harris and Bob Cahill led the Cooley team advising IQVIA.
“Cooley is thrilled to be part of delivering this tremendous result for IQVIA,” Klisch said. “It is extremely rewarding to see these transatlantic relationships and teams work together to create successful outcomes for our clients.”
Swiss pharmaceutical company Cardiorentis retained IQVIA in 2012 to manage the worldwide phase III clinical trial of Ularitide, a drug that Cardiorentis developed to treat heart failure. The clinical trial was a massive undertaking involving 100+ doctors and 2,000+ patients in hospitals in 23 different countries.
In 2018, Cardiorentis originally sued IQVIA in the North Carolina Business Court, claiming breach of contract and unfair business practices – namely, that certain patients enrolled in the trial skewed the test results. Cardiorentis sought damages of more than $500 million. IQVIA counterclaimed for unpaid invoices.
Ultimately, the High Court of Justice’s 121-page opinion awarded Cardiorentis nothing, finding that IQVIA did not breach the contract and performed its services reliably and with the requisite standard of care. The High Court also awarded IQVIA $4.5+ million on its counterclaim for nonpayment.
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