good news, thanks, John. This is the 3rd distributor (also known as a BP or business partner) for Vivus' Erectile Dysfunction drug (competes in a crowded market by being fast-acting--the woman can tell the man when to take it). Sanofi's territory will include the AsianPacific fringe of European culture and the oil sheik lands.
TERRITORY SIZE. The regions awarded to Sanofi (ticker SNY) are "big enough".. However, they are not as large as the European Union market awarded to Menarini (in Italy), nor the US urologist market awarded to Auxillium (ticker AUXL).
EARLY CASH. The milestones plus upfront payment for Vivus will total $60M, in proportion to the expected size of the markets awarded. Royalty payments will accrue later with sales That $60M is "big enough" to match the $60M in loan money not rrequested yet, of the total $110M in loans (royalty loans) offered by Pharmakon (a specialist in valuing medical patents). Pharmakon's agreement to set aside that remaining amount for Vivus expires Dec 13, I think, so this new money is "just in time" to replace that. Pharmakon will continue to supervise key decisions made by the new Vivus board while Vivus uses the initial $50M already accepted. I like Pharmakon's outside supervision as it reduces risk for all investors, not just Pharmakon.