We finally get the rubitecan marketing partner, and what a crappy press release. Decided to take profits on all but my last 100sh today (bad habit, keeping a few shares for old time's sake). Perhaps I'll take another look when Supergen (or Abbott) actually provides some useful data about the terms of the agreement. Meantime, we are left to surmise a) they gave away the store here or b) they have a really crappy press flak or c) they're engaged in an obfuscation of some sort...
biz.yahoo.com
Here's the best explanation of the terms of agreement they could muster for us at this critical point:
Under the terms of the agreement, Abbott will make an initial equity investment in SuperGen. Additional equity investments, cash milestones and option exercises are contemplated over the life of the agreement. Abbott will have exclusive distribution and promotion rights for rubitecan outside the United States and co-promotion rights with SuperGen for rubitecan within the United States. In addition, Abbott will become the exclusive U.S. distributor for Nipent©, SuperGen's currently marketed product for the treatment of hairy cell leukemia. SuperGen retains U.S. marketing rights for Nipent.
Forget about keeping all North American marketing rights, they've only managed to keep a portion of the US rights. As for the rest of the world, if there are royalties to be paid to Supergen for those sales, we sure don't see the R word mentioned at all here. Sure seems odd not to mention royalties...
Been a nice ride, I suppose we'll see a filing soon that will clear things up... |
