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Biotech / Medical : Regeneron Pharmaceuticals

REGN 774.62

-0.7%

3:59 PM EST

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From: rkrw	8/4/2005 8:11:45 AM
	Read Replies (1) of 3559

regn business plan: sign a deal, then rob partner twice, on their way in and way out :-) In January 2005, the Company and the sanofi-aventis Group amended their collaboration agreement to exclude from the scope of the collaboration the development of the VEGF Trap for eye diseases through local delivery systems. In connection with the amendment, the sanofi-aventis Group made a one-time $25.0 million payment to the Company, which was recognized as other contract income. In June 2005, the Company and Procter & Gamble amended their collaboration agreement and agreed that the research activities of the parties under the collaboration agreement were completed. In connection with the amendment, Procter & Gamble agreed to make a one-time $5.6 million payment to the Company, which has been recognized as other contract income. In the first quarter of 2004, in connection with its decision to forego its right to jointly develop the IL-1 Trap, Novartis agreed to pay Regeneron $42.75 million to satisfy certain funding obligations under their collaboration agreement, which was recognized as other contract income.

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