Santarus (SNTS) Enters Agreement to Commercialize FENOGLIDE(R) in US; Offers FY12 Sales Guidance
Tweet
Share
E-mailGet Alerts SNTS Hot Sheet
Join SI Premium – FREE
Santarus (Nasdaq: SNTS) entered an exclusive license agreement with Short Therapeutics to commercialize FENOGLIDE(R) Tablets 40mg, 120mg in the US.
Under the terms of the license agreement, Santarus will pay Shore an $11 million upfront fee and tiered royalties on net sales of FENOGLIDE. The royalties are 5% on net sales up to $10 million commencing in 2013, a 20% royalty on net sales between $10 million and $20 million, and a 25% royalty on net sales above $20 million, subject to certain potential offsets. Santarus also will be obligated to pay one-time, success-based milestones of $2 million if calendar year net sales equal or exceed $20 million and $3 million if calendar year net sales equal or exceed $30 million.
Sees FY12 sales of about $200 million, which compares to the Street estimate of $178.56 million.
Under the terms of the license agreement, Santarus will pay Shore an $11 million upfront fee and tiered royalties on net sales of FENOGLIDE. The royalties are 5% on net sales up to $10 million commencing in 2013, a 20% royalty on net sales between $10 million and $20 million, and a 25% royalty on net sales above $20 million, subject to certain potential offsets. Santarus also will be obligated to pay one-time, success-based milestones of $2 million if calendar year net sales equal or exceed $20 million and $3 million if calendar year net sales equal or exceed $30 million.
Sees FY12 sales of about $200 million, which compares to the Street estimate of $178.56 million.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Boeing names Ryan Shedd as new SVP and controller
- Wolfspeed (WOLF) Misses Q4 EPS by 174c; Offers Guidance
- CoVolt Power files for proposed IPO
Create E-mail Alert Related Categories
Corporate News, GuidanceSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
