Insmed Inc (INSM)

[mpetisth1]

Ruling today...

RICHMOND, Va., Oct 04, 2006 /PRNewswire via COMTEX/ -- Insmed Incorporated announced today that the U.S. District Court for the Eastern District of Virginia granted in part Insmed's motion to dismiss unfair competition claims brought against Insmed by Tercica, Inc. In a ruling today, Chief United States District Judge James R. Spencer narrowed the scope of Tercica's lawsuit against Insmed. In dismissing portions of the claims brought by Tercica, the Court found areas in which Tercica had not met its burden of establishing that the alleged statements made by Insmed constituted "false advertising" or violated Virginia law. While the court held that a number of Tercica's other factual allegations, if proven, would state claims for false advertising under federal and California law, in comments at the September 9 hearing, Judge Spencer noted that he felt "most if not all" of Tercica's case "could go out on summary judgment."