19th Apr 2024 11:27
(Alliance News) - Novacyt SA on Friday said it anticipates a court to dismiss an application by the UK Department of Health & Social Care, amid an ongoing legal case.
The Paris-based biotechnology group focused on clinical diagnostics provided an update regarding its and subsidiary Primer Design Ltd's legal proceedings against the DHSC.
The court has listed the pre-trial review to be heard on April 30.
The trial hearing has been listed to begin on June 10 and finish on July 4.
Novacyt expects the court to reserve judgment, meaning that the outcome will not be known on July 4.
The court will also hear an application for summary judgment in relation to one aspect of its claim, of which the DHSC is seeking judgment to be entered for the full value of its claim.
Having taken legal advice, Novacyt said it considers the DHSC's application to be very weak with low prospects of success, and is confident that the court will dismiss the application. Novacyt added it will announce the outcome of the application in "due course".
Back in April 2022, Novacyt was notified that the DHSC had issued a claim against Primer Design Ltd and Novacyt for GBP134.6 million, in relation to a contract dispute. In June 2022, Novacyt filed a defence of the claim made and a counterclaim of GBP81.5 million against the DHSC.
Primer Design designs and sells products for polymerase chain reaction, or PCR. Covid tests commonly use PCR.
Novacyt shares rose 8.2% to 69.67 pence each on Friday morning in London.
By Tom Budszus, Alliance News slot editor
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