Senior Associate Harriet Chopra comments in relation to arbitration trends in the global life sciences sector, in a CDR News feature.
Harriet’s comments were published in CDR News, 21 March 2023, and may be read on the CDR News website here.
Over the years arbitration has fast become a favoured dispute resolution method in the global life sciences sector. This has been accelerated by the COVID-19 pandemic, increasing adoption of new technology and the specific benefits that arbitration can offer. These include privacy and the ability to shield sensitive trade secrets from the public eye, and the opportunity to appoint arbitrators and tribunals with commercial knowledge and expertise of the industry, which can enable more efficient proceedings.
Commenting on the rise in arbitration claims in the sector, Fladgate’s Harriet Chopra said:
“There can be no doubt that the Covid-19 pandemic will give rise to claims. The sheer speed with which life sciences companies were forced to enter into hugely complex commercial arrangements in unprecedented circumstances and without a clear idea of what the future held created ample scope for disputes.”
In relation to arbitrator appointments and commercial expertise, Harriet commented:
“Appointing an arbitrator or tribunal with the right experience or expertise also has the potential to lessen costs for the parties by reducing the amount of time required to educate the tribunal on the relevant scientific facts and sometimes even obviating the need for some expert evidence.”
