Cistron Biotechnology(CIST)$.30 Message Board

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Biotech / Medical : Cistron Biotechnology(CIST)$.30

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To: scaram(o)uche who wrote (385)	2/7/1997 9:36:00 PM
From: John Chylek	of 2742

This is from the PR Newswire, Nov 1, 1996: "The terms of the settlement are that the defendants will pay Cistron a total of $21 million, payable $11 million on November 15, 1996, three installments of $3 million each on November 15 of each of the following three years beginning in 1997 (1997, 1998, and 1999), and $1 million on November 15, 2000. Immunex will also assign certain IL-1 beta patents to Cistron. The settlement was made without any concession or admission of liability on the part of any party. Cistron had sought damages of $26 to $67 million, plus exemplary damages and attorney's fees under Washington law." This doesn't square with IMNX taking a onetime charge of 18.1M.....? Can a company take the full charge in one year even though the amount is being paid out over four? John

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