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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?


To: fred hayes who wrote (1861)5/3/2005 11:52:35 AM
From: scaram(o)uche  Read Replies (1) | Respond to of 3158
 
I'd go with that.... when I said 1%, I was trying to say "it ain't nine".

:-)



To: fred hayes who wrote (1861)5/3/2005 1:04:12 PM
From: nigel bates  Respond to of 3158
 
They weren't publishing the royalty rates at the time of the amended agreement in July last year -

a. In consideration for the grant of the license hereunder and other good and valuable consideration, GSK shall pay Corixa a royalty on all Net Sales generated on or after June 30, 2008, which royalty obligation shall expire for all Products, ten (10) years after the first commercial sale in the United States or Europe of GSK's Product for the prevention and/or control and/or treatment of human papilloma virus in humans or fifteen years (15) after the first commercial sale in the United States or Europe of GSK's Product for the prevention and/or control and/or treatment of herpes simplex virus in humans if GSK does not launch a Product for the prevention and/or control and/or treatment of human papilloma virus in humans, provided, however, that if the first commercial sale of such Product occurs after June 30, 2008, GSK shall continue to pay royalties in accordance with the applicable MPL License and Supply Agreement on all Net Sales of other Products until such first commercial sale, after which only the royalty due under this Amendment shall be payable on Net Sales.

 
*CONFIDENTIAL TREATMENT REQUESTED.

11
------------------------------------------------------------------------
b. Royalties shall be payable on a Product-by-Product basis according to the following schedule:

Aggregate Annual Net Sales of the
applicable Product Royalty
--------------------------------- -------
< or = USD$[*] [*]%
> USD$[*] and < or = USD$[*] [*]%
>USD$[*] [*]%


As an example, if a particular Product has aggregate Annual Net Sales of USD$1billion, the first USD$[*] of such Net Sales shall bear a [*]% royalty, the next USD[*] of such Net Sales shall bear a [*]% royalty and the remaining USD$[*]n of such Net Sales shall bear a [*]% royalty. If in the same year another Product has aggregate annual Net Sales of USD[*], all of such Net Sales shall bear [*]% royalty.

The royalty rates under this Amendment shall not be subject to reduction or offset for any reason...


I got this reply from Corixa IR today, and am losing motivation: I'm off home to the family now, but if anyone else can be bothered to give him a call...

Mr. Bates:

Thank you for your inquiry. I would be happy to discuss your questions.
Please feel free to call me direct at 206-366-3720 (I will accept your
collect call) or provide a convenient time for me to contact you.

Jim DeNike
Corixa