UPDATE 1-King sues ZymoGenetics alleging trademark violation
* ZymoGenetics: U.S. court enters restraining orders
* Orders halt co's marketing conducts related to Recothrom
* ZymoGenetics seeks immediate relief from court
Nov 4 (Reuters) - King Pharmaceuticals Inc (KG.N) has sued ZymoGenetics Inc (ZGEN.O) seeking damages and injunctive relief, alleging trademark infringement among other things, and a U.S. court has temporarily restrained Zymogenetics from marketing a product, according to a regulatory filing.
ZymoGenetics said in the filing that the three temporary restraining orders (TROs), passed on Nov. 3 without hearing its side, were prohibiting it from engaging in certain marketing or promotional conducts related to Recothrom, its hemostasis aid.
ZymoGenetics said King, in the suit filed in a federal court in Tennessee, alleged Zymogenetics of engaging in unfair competition, false advertising, trademark infringement and other related claims.
"We are seeking immediate relief from the court to vacate the TROs, and we will seek an immediate hearing on this motion," ZymoGenetics said in the filing.
A hearing on King's motions for preliminary injunctive relief is scheduled for Nov. 16, and ZymoGenetics will oppose King's request for preliminary injunctive relief, it said.
"We currently believe that this litigation will not have a material adverse effect on our financial condition, our results of operation, or our cash flows," ZymoGenetics added.
ZymoGenetics shares closed at $5.08 Tuesday on Nasdaq, while King shares closed at $10.26 on the New York Stock Exchange. (Reporting by Esha Dey in Bangalore; Editing by Gopakumar Warrier)
