Israel Chief Scientist Won't Claim Refund from Serono

Hadas Manor, "Chief Scientist won't claim refund from Serono. Eli Opper: A lawsuit would damage Israel's reputation. Source: Serono obtained permits for exporting know-how (12 January 2005, Globes Online)

Leading text: "The decision emerging at the Office of the Chief Scientist is that the State of Israel will not claim refunds from Swiss company Serono (NYSE:SRA; SWX:SEO) even though it closed its activity in Israel and failed to abide by its obligations, sources inform "Globes". Serono will not be required to repay research and development grants it received until 1993 to develop the drug Rebif, even though it transferred part of the production of the drug to its plants in Switzerland, and recently closed down production in Israel altogether. The possibility of claiming refunds from Serono was examined because of the fact that it transferred know-how and production out of Israel without bringing to Israel alternative production, and because it exported know-how apparently developed with the aid of Chief Scientists grants, in contravention of the Encouragement of Industrial Research and Development Law (1984), representing a prima facie criminal offence..." [FullText]