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Biotech / Medical : InterMune (nasdaq)ITMN
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To: scaram(o)uche who wrote (44)10/11/2000 11:27:20 AM
From: rkrw  Read Replies (1) of 508
 
Royalty rate is meager. Not much of a leverage play here imo. 1M shares are still there. Question is, for how long?

Beginning on January 1, 2002, we are obligated to pay to Connetics a royalty of .25% of our net U.S. sales for ACTIMMUNE until our net U.S. sales surpass $1 billion. Thereafter, we are obligated to pay a royalty of .5% of our net U.S. sales. In addition, we are obligated to pay to Connetics aggregate milestone payments of $1,500,000 upon the achievement of various levels of net U.S. sales.
Depending on the level of net U.S. sales, we are obligated to pay cash and/or to furnish to Connetics promissory notes that have an interest rate of the prime rate plus two percentage points.
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