NEW YORK (GenomeWeb News) – Operon Biotechnologies must pay Qiagen $2.1 million as a result of an arbitration panel ruling, Qiagen disclosed in a regulatory filing.
In its quarterly earning document filed with the US Securities and Exchange Commission earlier this month, Qiagen said that the arbitration panel ruled in its favor in a supply agreement dispute between the two companies.
In 2009, Operon began arbitration proceedings against Qiagen, claiming Qiagen failed to comply with the preferred supplier provisions of their agreement, resulting in lost profits and other damages. Qiagen disputed the allegations and asserted counterclaims, and in June the arbitration panel ruled in favor of Qiagen on all claims, Qiagen said.
Operon is now Eurofins MWG Operon, based in Ebersberg, Germany, and offers custom oligos, and oligos and sequencing services.