Novacyt settles High Court dispute with DHSC
Novacyt S.A. (CDI)
49.50p
16:08 10/03/25
-0.10%
-0.05p
Biotechnology group Novacyt and the UK's Department of Health and Social Care have reached a commercial settlement of all claims and counterclaims in High Court proceedings.
FTSE AIM All-Share
682.63
16:59 10/03/25
n/a
n/a
Health Care Equipment & Services
8,240.06
17:14 10/03/25
-0.80%
-66.53
Novacyt will pay £5.0m to the Department of Health and Social Care to satisfy legal proceedings between itself and the British government arm.
The AIM-listed firm said a trial scheduled to start on 10 June would therefore not take place and noted that neither party has made "any admission of liability or wrongdoing" in respect of the claim or counterclaim or otherwise.
As of 0905 BST, Novacyt shares had sunk 16.05% to 58.60p.
Reporting by Iain Gilbert at Sharecast.com