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Astex Pharmaceuticals, AŞ Message Board

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  • kyjellie kyjellie Aug 14, 2012 4:06 PM Flag

    Royalty schedule from Quarterly transcript

    Batzem,

    The sublicense is already completed. Otherwise cilag would not have taken it to the EMMA. I figure eisai gets a straight rate on dacogen sales in this territory, maybe 35%? They have to pay astx from those revenues. I don't know who manufactures dacogen, but if Eisai does, they see the profits from that side also.

    I appreciate the better discussion. Thank you.

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    • KY

      I realize the sublicense is complete but that doesnt preclude a milestone payment from Cilag to Eisai IMHO

      The original Dacogen was manufactured by Pharmachemie of the Netherlands which is now part of Teva. I dont know if thats still the case but I know people there and will check.

      • 1 Reply to batzem
      • The way the Quarterly report is written,
        "In 2006, Eisai executed an agreement to sublicense Dacogen to Cilag Gmbh International ("Cilag"), a Johnson & Johnson company, granting exclusive development and commercialization rights in all territories outside North America."
        and it later says ASTEX gets 50% of all sublicenses.
        It is ambiguous if this includes 50% of the J&J/Cilag deal but as written, I would argue it does. So my real point was ASTEX gets:
        50% of Eisai's receipts from J&J
        - and NOT -
        30% royalty on sales (since it would all presumably be over the $200 mil threshold to reach the 30% royalty rate).
        Does my quandary make any sense?