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ANI Pharmaceuticals, Inc. Message Board

  • conlanjocko conlanjocko Apr 25, 2012 10:34 AM Flag

    Teva Partnership

    Jeff, Prof or anyone -

    I'm looking for the milestone payment amount upon commercialization of BioTgel. I know they are to receive royalties upon sales, but it also mentions certain milestone payments.

    I can't find any figures for that agreement. Either it's not significant enough to warrant disclosure or, it can be a really nice surprise.

    "Teva has agreed to pay BioSante certain milestone payments plus royalties on sales of the product, if and when commercialized."

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    • In December 2002, the Company signed a development and license agreement with Teva Pharmaceuticals USA, Inc., a wholly owned subsidiary of Teva Pharmaceutical Industries Ltd. under which Teva USA and the Company will collaborate on the development of a hormone therapy product for

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      the U.S. market. Upon signing the U.S. development and license agreement, the Company received an upfront payment of $1.5 million. In addition, Teva will pay the Company development and sales-related milestone payments plus royalties on sales of the product commercialized in this collaboration. In exchange, the Company granted Teva exclusive rights to develop and market a certain hormone therapy product. Teva also is responsible for continued development, regulatory filings and all manufacturing and marketing associated with the product.

      • 2 Replies to kaptkosi
      • Read the 10-K people: The Teva royalty payment is in a holding pattern until the patent infringement suit with Abbott Laboratories terms of settlement are known. My guess is that Abbott is forcing Teva to hold off on selling the product for a few years. This is why the stock will probably continue down to the 52 low before it turns around in IMO. BPAX has no money coming in right now and nothing on the horizon. They will eventually have to sell equity, which will take a hit on the PPS.


        "Our male testosterone gel is our second FDA approved product. This product was initially developed by us, and then licensed by us to Teva for late stage clinical development. Teva submitted a new drug application (NDA) to the FDA in the beginning of 2011, which was approved by the FDA in February 2012. Subsequent to Teva submitting the NDA, in April 2011, a subsidiary of Abbott Laboratories, a marketer of a testosterone gel for men, filed a complaint against Teva alleging patent infringement. This litigation was settled in December 2011; however, the terms of the settlement agreement are confidential and have not been publicly disclosed. To the extent Teva has agreed with the subsidiary of Abbott Laboratories to delay the commercial launch of our male testosterone gel, the settlement agreement could delay our receipt of royalties based on sales of our male testosterone gel by Teva."

      • It's just not specific on the amount, just states they are due a milestone payment upon commercialization.

        Some heavy sell orders coming through......

    • Hi Conlan,

      I looked also and could not find anything that would indicate what the "milestone payment" is from Teva. I did post this last night.

      Lincolnshire IL-based BioSante Pharmaceuticals (Nasdaq: BPAX; http://www.biosantepharma.com/) might be one place to start. Focused on female sexual health and oncology, BPAX has a portfolio of cancer treatment drugs, several of which have been given orphan drug status. But one of the most interesting is a drug that uses a virus derived from adenovirus type 5, a common cold virus that replicates in and selectively kills tumor cells. Finding a silver lining to the miseries of a common cold would be a rewarding type of irony. BPAX trade at about $0.79, down from the $4 range within the last year. As of their last quarterly report in November, the company had about $70 million in cash, but for the first nine months of 2011, the mostly pre-revenue company lost about $45 million, so there is a balancing act to investigate. The market cap is about $87 million, and daily trading volume is listed as nearly 8 million. Here is a later recommendation from SeekingAlpha: http://seekingalpha.com/article/398721-2...

      Article came out a few months ago! Anyone ever heard of adenovirus 5 ?? The depth of this co portfolio still remains unrealized !

 
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