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L'Oreal to pay $1.2 mil. punitive fine for breach of minoxidil/retinoid licensing agreement.

This article was originally published in The Rose Sheet

Executive Summary

MINOXIDIL LAWSUIT JURY AWARDS ALYZAN $1.2 MIL. FOR BREACH OF CONTRACT, anticipatory repudiation of contract, and breach of implied duty of good faith, fair dealing and cooperation with regard to Alyzan's exclusive licensing agreement with L'Oreal for rights to the development, regulatory approval and commercial sale of Alyzan's prescription minoxidil/retinoid compound hair regrowth formulas. The suit, filed in Manhattan federal court Oct. 14, 1993 by Alyzan President and CEO Gail Bazzano, was decided in favor of Alyzan and Bazzano by a jury Oct. 31. Bazzano developed the formulas.

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