Lasco Distributors drop to $7

Lasco Distributors shares dropped to $7 with 257,123 units trading after the courts handed partial judgement in its case for damages against Pfizer resulting from an injunction from selling the drug Salts of Las Amlodipine in 2005.
Lasco’s claimed US$300 million but the court is saying that the amount is too high based on the evidence presented.
In an interview with Lascelles Chin in 2014, he confirmed that the amount was sales estimated to be lost. In such cases the amount to be claimed would be loss of profits. From all indications, the loss is unlikely to be more than 50 percent of this amount. Based on the exchange rate of J$59.06 used to compute the inventory losses from disposal of the drug for Medimpex, the loss is likely to be priced using this rate with interest to be computed at the local interest rates.

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