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Biotech / Medical : Nortran Pharmaceutical -NRT.V
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To: David Culver who wrote (1070)4/19/1999 9:27:00 PM
From: Intrepid1   of 1185
 
From the original Hoffman Release...

under the terms of this agreement, Roche has paid Nortran a
fee for the exclusive option to a worldwide (except for the
ASEAN nations) licence to these compounds. If Roche
exercises its option, Nortran will receive a licence fee as well as milestone payments upon reaching certain stages of
development and certain sales levels of a new drug. The
maximum amount of such payments will be $86.5-million
(U.S.). In addition, Roche will pay Nortran a royalty on sales
of any product coming from the program.

There is nowhere in today's release where it says Hoffman will exercise its option. All the release says is the option will expire on or before June 15, 1999. This is a purposefully vague news release.Can anyone here tell me with any degree ofcertainty whether or not Hoffman is going to exercise its option and develop the drug?

etc.
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