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Australia’s Biota Chairman, Shareholder Wage War Over GSK Suit

This article was originally published in PharmAsia News

Executive Summary

Australia's Biota, fresh from a legal battle with GlaxoSmithKline, now faces another conflict over seating a board contender waging a shareholder revolt. Michael Montalto, a Melbourne physician, was nominated to be a board member, but Biota Chairman has vowed to use proxy votes to keep him off the panel. Montalto is a member of the Australian Shareholders Association who has cited the company's suit with GSK as the reason for his fight. He proposes canceling Biota's effort to buy back 5 percent of the company's shares. (Click here for more



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