Lojuxta-potential 30 mil30 Mar 2017 10:01
Licence Agreement Terms
Under the terms of our licence agreement, Amryt has the exclusive right to sell Lojuxta across its licenced territories in return for which Amryt will:
· make royalty payments to Aegerion, paid quarterly, based on a percentage of net sales during a calendar year. The royalty percentage is 18% of net sales of the product less than US$15,000,000 and 20% of net sales more than US$15,000,000;
· make once-off commercial milestone payments, subject to achieving certain sales targets. A one-off milestone payment of US$1,000,000 is due the first time that aggregate net sales in a calendar year equals US$20,000,000 with a further one-off US$1,500,000 milestone payment due on reaching US$30,000,000 net sales in a calendar year; and
· take on the ongoing regulatory and post-marketing obligations and commitments in support of Lojuxta as above.