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Incyte Corporation Message Board

  • tjnelis tjnelis Feb 23, 2013 11:52 AM Flag

    jacosa

    wer you aware of the following

    Under this agreement, we received an upfront payment and immediate milestone payment totaling $210.0 million and were initially eligible to receive additional payments of up to approximately $1.1 billion if defined development and commercialization milestones are achieved. In 2012, 2011 and 2010, we received $40.0 million, $25.0 million and $50.0 million, respectively, in milestone payments under this agreement. We also could receive tiered, double-digit royalties ranging from the upper-teens to the mid-twenties on future ruxolitinib net sales outside of the United States. In addition, should Novartis receive reimbursement and pricing approval for ruxolitinib in a specified number of countries, we will be obligated to pay to Novartis tiered royalties in the low single digits on future ruxolitinib net sales within the United States. Each company is responsible for costs relating to the development and commercialization of the JAK inhibitor compound in its respective territories, with costs of collaborative studies shared equally. Novartis is responsible for all costs relating to the development and commercialization of the c-MET inhibitor compound after the initial Phase I clinical trial. JAKAFI is sold outside of the United States by Novartis under the name JAKAVI. For the year ended December 31, 2012, we recorded $3.7 million of product royalty revenues related to Novartis net sales of JAKAVI.

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    • I had forgotten about the back royalties on US sales. That would probably support a unified promotional program world-wide, so I don't see it as much of a negative. I notice "defined development and commercialization milestones" triggering payments TO Incyte vs "reimbursement and pricing approval for ruxolitinib in a specified number of countries" triggering payments FROM Incyte.

 
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