Fera Pharmaceuticals LLC, a provider of anti-infective ophthalmic medicines, sued business partner Akorn Inc., seeking more than $100 million in damages for contract violations and misuse of trade secrets.
Fera alleges Akorn, of Lake Forest, Illinois, in 2009 agreed to make Fera products for seven years, “failed to perform its duties,” and sought to acquire Locust Valley, New York-based Fera’s trade secrets and make at least two products itself, according to papers filed today in New York state Supreme Court.
“Akorn’s violation of the Commercial Manufacturing Supply agreement caused Fera substantial economic harm,” and Akorn should pay compensatory damages, Fera said in court papers.
Fera seeks a jury trial and unspecified punitive damages.
Akorn’s chief financial officer, Tim Dick, didn’t immediately return a voice-mail message seeking comment on the lawsuit.
The case is Fera Pharmaceuticals LLC v. Akorn Inc., 653184/2012, New York state Supreme Court, County of New York (Manhattan).