GSK’s TESARO provides update on AnaptysBio litigation

GSK (GSK) subsidiary, TESARO, confirms that the Delaware Chancery Court has granted the motion to dismiss filed by AnaptysBio (ANAB) against TESARO’s claim for anticipatory breach. The court’s ruling does not address the merits of the principal contractual dispute between the parties and has no impact on TESARO’s remaining claim against AnaptysBio for declaratory judgment. GSK and TESARO are firmly of the view that these allegations are entirely without merit and remain focused on pursuing that claim at trial. TESARO initiated this litigation following allegations made by AnaptysBio that TESARO has not fulfilled certain requirements of the license agreement entered in March 2014 between the parties and that AnaptysBio intends to revoke TESARO’s licence for dostarlimab.