Biofrontera AG: Legal dispute on import in the USA and resulting revised outlook

Leverkusen, Germany (pta008/21.07.2024/14:45) - Biofrontera AG has been sued by a USA competitor with the argument that Biofrontera infringes some competitors' lamps patents.

The competitor has filed two different processes, one for two patent infringements in front of the district court, and a second one before the ITC (International Trade Commission), aiming to prohibit the import in the USA of Biofrontera XL Lamp.

Biofrontera has requested initial legal advice and is currently in the process of evaluating its legal position. Biofrontera AG and its subsidiaries have signed a jointly defense agreement with Biofrontera Inc, to share legal expenses.

Costs for the ITC legal proceedings are expected to amount to US$5 million, to be shared between to two companies. The outlook for the business year 2024 needs to be revised as a result. ​Currently the company is about to establish the effects and will inform about a new outlook once there is more clarity about the situation.

(Ende)