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Biotech / Medical : Paracelsian Inc (PRLN)
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To: paul goldstein who wrote (3696)7/10/1998 12:48:00 PM
From: John H. Farro  Read Replies (1) of 4342
 
Paul,

I am a little confused as to the exact details myself, but here is how I understand it:

1) PRLN has agreed to design assays for 10 different products. Every time they complete an assay they get get an assay completion fee.

2) Scherer will want PRLN to sample test each batch of herbal product to be sold with the BioFIT label. I don't know exactly what that means, but let's say they sample test 1 bottle for every 1000 bottles sold. (I don't even know if this sampling ratio is in the right ball park. Could be one bottle for every 100 or one for every 10,000 sold.) PRLN will get a fee every time they sample a batch.

3) PRLN will get a royalty for every bottle sold carrying the BioFIT label.

4) Scherer agreed to pay PRLN fees for the completion of agreements with new customers. I don't know if that means agreements between PRLN and new customers or agreements between Scherer and new customers. I suspect this means Scherer plans on acting as the middleman for the BioFIT certification system. Perhaps Natures Way will realize that they blew an opportunity by not being the first to enroll in the BioFIT program. If they decide that they now want to carry BioFIT certified products they will have to get them through Scherer. I'm guessing that Natures Way will pay Scherer a licensing fee to obtain the right to carry BFC products. PRLN will get its regular royalty on those products sold by Natures Way plus a fee from Scherer for enrolling Natures Way in the program.

I could be wrong in my interpretation of the details of how this program will work, but that's my best guess. Does anyone else read this differently?

Robin
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