Idexx Laboratories Inc. of Westbrook yesterday announced that it will take a one

Source

Portland Press Herald

Date

6-24-1994

Pages

1C

Abstract

Idexx Laboratories Inc. of Westbrook yesterday announced that it will take a one-time, $1.5 million charge against earnings to satisfy an arbitration panel's ruling involving a contract dispute. The ruling stems from a $5 million claim in damages by Medica Corp. against VetTest, a product line that Idexx acquired in 1992. The contract between Medica and VetTest preceded Idexx's acquisition, so the biotechnology company has no choice but to accept the arbitration panel's ruling.

Subjects

Biotechnology industries, Idexx Laboratories Inc -- Westbrook

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