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Biotech / Medical : Duramed (DRMD) Synthetic Estrogen Product
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To: Doug Bean who wrote (1464)10/22/1999 11:52:00 PM
From: semi-recumbent  Read Replies (1) of 1837
 
Re management "the management does something so stupid that they have to give away 30 million dollars and call it a good deal." Schein is not getting something for nothing, they were 50 - 50 partners with Duramed on the development and any ensuing profits on Cenestin when Cenestin was intended as a generic equivalent of Premarin. Instead of Schein getting %50 of the future profits of Cenestin forever they have been bought out for $30 million payable by January 20 plus another $15 million if (when) Cenestin net profits reach a total of $100 million in any 5 of the next 15 years. Seems like a pretty good deal for Duramed.
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