Clal, Evotec take a hit after Hyperion claims it was defrauded in diabetes deal

Shares of Israel's Clal Biotechnologies took a nasty hit after Hyperion ($HPTX) alleged that it was being forced to drop a diabetes drug obtained in its buyout of Andromeda from Clal. Clal had been in line for up to $550 million in milestones until Hyperion said that Andromeda and an outside biostatistics group had cooked the books on the data for the drug. Shares of Germany's Evotec AG also were dented in the aftermath of the scandal. Evotec lined up rights to the drug after it acquired DeveloGen some years back. Story

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