Clal Biotech To Sue Hyperion Therapies For $200M

September 23, 2014 | Clal Biotechnology will sue Hyperion Therapies for a total of $200 million for damages, breaching of contracts between the two companies, and unprofessional behavior. The announcement came after Clal Biotechnology informed the company’s investors that it has requested Hyperion to turn over information regarding the latter company’s claims in the lawsuit. Hyperion Therapies acquired Andromeda from Clal Biotechnology this past June, after extensive checks into the companies management. On the 8th of September, Hyperion published a statement according to which it announced that it would halt the production of Andromeda’s treatment for juvenile diabetes, a sister company of Clal Biotechnology, after which the  value of latter company’s stock dropped by at least ten percent.