Intellipharmaceutics International Inc. (IPCI)

[Samsa]

wimike, absolutely there are legal remedies they could be pursuing. exactly what, is difficult to say without seeing the actual contract. most contracts have a good faith performance clause. or they even have escape clauses. such as if a certain amount of sales are not reached the other party has an option to discontinue.

I think I read somewhere where MNK had the option of dropping the contract if IPCI does not receive approvals within a certain period. the same type of language is usually there on the opposite side.

Ironically, I offered my services free of charge to help the company prior to adcom and even go to the adcom. I was thanked and they politely declined. I really think they need someone to take a look at the contract and advise them. But I do not think they realize they have a problem. They accept the excuse that MNK was slow to market and the contracts were locked up. They ignore the facts of others who were approved months after IPCI and MNK launch now have a larger share of the market. so clearly contracts were not locked up.