Altus accuses Lonza of breaching contract
Altus Pharmaceuticals has terminated its contract with Lonza over an alleged breach in the agreement to provide active pharmaceutical ingredients (API) for Trizytek (liprotamase).
Development of Trizytek stopped in January and in May Lonza issued a lawsuit alleging that Altus had terminated the contract without notice pursuant to Section 11.3 of the agreement.
Altus denies this and has now made allegations against Lonza in a regulatory filing, in which it also announces termination of the contract.
The filing alleges that Lonza failed to meet the contract requirements “with respect to the production of validation batches of the APIs for Trizytek”.
Altus claims no termination fee is necessary because it believes Lonza is in breach of contract.
The termination fee would be approximately $7.66m (€5.45m).
