Les Laboratoires Servier & Anor v Apotex Inc. & Ors [2011] EWHC 1318 (Pat) (11 May 2011)

Les Laboratoires Servier & Anor v Apotex Inc. & Ors [2011] EWHC 1318 (Pat) (11 May 2011)

Servier demonstrated, based on evidence and the relevant period since November 2008, that a commercial interbank lending rate (LIBOR) more accurately reflects the rate at which a company in its position would have borrowed funds, justifying a departure from the conventional base rate. As the currency of the award is sterling, the appropriate reference rate is three month LIBOR plus 1%.

Citation
[2011] EWHC 1318 (Pat)
Parties
Claimant: Les Laboratoires Servier; Claimant: Servier Laboratories Limited; Defendant: Apotex Inc.; Defendant: Apotex Pharmachem Inc.; Defendant: Apotex Europe Limited; Defendant: Apotex UK
Jurisdiction
England and Wales
Judgment Date
11 May 2011
Procedural Posture
Patents Commercial / Post Judgment Order on Interest and Costs
Outcome
Interest awarded at three month LIBOR plus 1% on the sum repaid by Apotex to Servier; Servier to recover 50% of its costs since 7 April 2011.
Legal Topics
Interest on Judgment Debt, Costs, Damages, Patents
Intellectual Property Commercial Law Interest on Judgment Debt Costs Damages Patents

Case Brief

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Parties

Les Laboratoires Servier

Claimant

Servier Laboratories Limited

Claimant

Apotex Inc.

Defendant

Apotex Pharmachem Inc.

Defendant

Apotex Europe Limited

Defendant

Apotex UK

Defendant

Procedural Posture

Patents Commercial / Post Judgment Order on Interest and Costs

Legal Issues

  1. 1 What is the appropriate rate of interest to be awarded on the sum repaid by Apotex to Servier?
  2. 2 Should the reference rate be LIBOR, EURIBOR, or base rate?
  3. 3 What order should be made as to costs for the interest inquiry?

Ratio Decidendi

Servier demonstrated, based on evidence and the relevant period since November 2008, that a commercial interbank lending rate (LIBOR) more accurately reflects the rate at which a company in its position would have borrowed funds, justifying a departure from the conventional base rate. As the currency of the award is sterling, the appropriate reference rate is three month LIBOR plus 1%.

Court Disposition

Interest awarded at three month LIBOR plus 1% on the sum repaid by Apotex to Servier; Servier to recover 50% of its costs since 7 April 2011.

Orders

  • Interest on damages awarded at three month LIBOR plus 1%, calculated as £1,001,594.
  • Servier to recover 50% of its costs incurred since 7 April 2011.