Small Business Finance News
SIGA To Appeal SBA Decision
Written by Jenna Weiner
Company says that SBA was wrong to revoke contract
A drug company that was awarded a government contract to develop a drug to fight small pox is fighting the latest ruling by the U.S. Small Business Administration, which determined that it didn't qualify as a small business.
SIGA Technologies said that it planned to a appeal the decision to the SBA's Office of Hearing and Appeals after an SBA area director found that the company was "other than small." The company, which developed 1.7 million anti-small pox drugs for the U.S. Department of Health and Human Services, said that it believed it had followed the rules.
"We are disappointed with the Small Business Administration's finding, rendered November 5, 2010, and believe that SIGA appropriately qualified as a small business concern for this procurement. We are very proud that HHS selected our groundbreaking drug, ST 246(R), for this important acquisition. We look forward to resolving the appeal favorably and promptly," said Dr. Eric A. Rose, SIGA's Chairman and chief executive officer when speaking about the news for small business.
Pharmaceutical companies across the United States have been making headlines in other ways recently. Vertex, based in Massachusetts, will present at a webcast during the Credit Suisse Annual Healthcare Conference later this week.
Share this article
About Our Entrepreneur News Feeds
If you enjoyed this article, you can find plenty more like it on our site. We cover important news stories for small business owners. In addition to breaking news for entrepreneurs, we also have tons of how-to articles that cover common small business challenges like obtaining venture capital, buying advertising, getting publicity and much more.
Additional Resources for Entrepreneurs