Cipher Pharmaceuticals' Ownership Of Certain Abscoria-Related Clinical Data Affirmed by US Court

05:23 PM EDT, 09/01/2026 (MT Newswires) -- Cipher Pharmaceuticals (CPH.TO) said Tuesday after trade that a New York federal court denied Sun Pharmaceuticals' petition to vacate an arbitrator's ruling concerning the ownership of certain clinical data. The court agreed with the arbitrator that Cipher owned clinical data that was used by Sun to launch a prescription anti-acne medication, Abscoria, in Canada in 2023. The arbitrator had awarded Cipher damages of C$4.2 million, a 15% royalty on net sales of Absorica in Canada from Jan. 1, 2026, and ending on Dec. 31, 2040. Also awarded was 80% of Cipher's out-of-pocket attorneys' fees and certain expenses related to the arbitration process, a statement said. The federal court awarded Cipher interest on the damages and its out-of-pocket attorneys' fees and certain expenses directly related to the arbitration process, at a rate of 9% per annum. Cipher Pharmaceuticals shares closed up C$0.51 at C$14.19 on the Toronto Stock Exchange.