DGAP-News: Biofrontera AG / Key word(s): Legal Matter
12.07.2018 / 13:30
The issuer is solely responsible for the content of this announcement.
Biofrontera AG subsidiary files suit against DUSA Pharmaceuticals, Inc.
Leverkusen, Germany, July 12, 2018 – Biofrontera Inc. (“Biofrontera”), a wholly owned subsidiary of Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F), announced that on July 6, 2018, Biofrontera filed unfair competition and tortious interference claims against DUSA Pharmaceuticals, Inc. (“DUSA”) in Orange County Superior Court in California.
The lawsuit alleges that “DUSA provides excessive free product samples to physicians to offset their purchasing costs” in violation of federal law; that “DUSA has created an elaborate Average Sales Price scheme to inflate DUSA’s product’s profitability” in violation of state law; and that DUSA has improperly interfered with Biofrontera’s relationships with one or more dermatology groups in violation of state law. The lawsuit seeks damages from and injunctive relief against DUSA.
Three days later, on July 9, 2018, DUSA asserted trade secret misappropriation and tortious interference claims against Biofrontera in federal court in Massachusetts. DUSA’s subsequent claims are without merit, and Biofrontera intends to vigorously fight them.
Biofrontera AG is an international biopharmaceutical company specializing in the development and commercialization of a platform of pharmaceutical products for the treatment of dermatological conditions and diseases caused primarily by exposure to sunlight that results in sun damage to the skin. Biofrontera’s approved products focus on the treatment in the U.S. and Europe of actinic keratoses, which are skin lesions that can sometimes lead to skin cancer, as well as the treatment of certain forms of basal cell carcinoma in the European Union. American Depositary Shares representing Biofrontera’s ordinary shares are listed on the NASDAQ Capital Market under the symbol “BFRA”, and Biofrontera’s ordinary shares are listed in the Frankfurt Stock Exchange (B8F, ISIN: DE0006046113). Information is also available at www.biofrontera.com.
Forward Looking Statements:
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the public offering and the intended use of proceeds from the offering. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate” and “intend,” among others. Such forward-looking statements are based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are set forth in the Registration Statement on Form F-1 filed with the SEC, including in the section “Risk Factors,” and in future reports that we will file with the SEC. Given these risks, uncertainties and other factors, prospective investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statement.
12.07.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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|Phone:||+49 (0)214 87632 0|
|Fax:||+49 (0)214 87632 90|
|ISIN:||DE0006046113, NASDAQ: BFRA|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart, Tradegate Exchange; Nasdaq|
|End of News||DGAP News Service|