Ultragenyx Faces Lawsuit Over Alleged Unjust Use of Henrietta Lacks' Cells
Portfolio Pulse from Vandana Singh
Ultragenyx Pharmaceutical (NASDAQ:RARE) faces a lawsuit from the estate of Henrietta Lacks over the alleged unjust use of HeLa cells. A Maryland federal court has allowed the case to proceed, rejecting Ultragenyx's motion to dismiss. The lawsuit follows a similar case against Thermo Fisher Scientific (NYSE:TMO), which was settled last year.
May 22, 2024 | 4:27 pm
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NEUTRAL IMPACT
Thermo Fisher Scientific previously settled a lawsuit with the estate of Henrietta Lacks over the alleged misuse of HeLa cells. This context is relevant as Ultragenyx faces a similar lawsuit.
The previous settlement by Thermo Fisher provides context but does not directly impact its current stock price. The focus is on Ultragenyx's ongoing legal issues.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Ultragenyx Pharmaceutical is facing a lawsuit from the estate of Henrietta Lacks over the alleged unjust use of HeLa cells. The court has allowed the case to proceed, rejecting Ultragenyx's motion to dismiss.
The lawsuit could lead to potential financial liabilities and reputational damage for Ultragenyx, negatively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100