Remaining potential payments under the GSK License Agreement, which include milestones and royalties based on commercial launch, and achievement of pre-specified sales thresholds, are as follows (in millions):
|
|
|
Contingent Event |
Milestone Payment |
Total potential commercial milestones based on first commercial sales |
$101.0* |
|
First commercial sale of a product in the United States |
- |
$51.0 |
Second anniversary of first commercial sale of a product in the United States |
- |
$25.0 |
First commercial sale of a product in two European countries |
- |
$25.0 |
Total potential sales milestone payments |
$225.0 |
|
Net annual sales greater than $200.0 |
- |
$25.0 |
Net annual sales greater than $300.0 |
- |
$25.0 |
Net annual sales greater than $400.0 |
- |
$25.0 |
Net annual sales greater than $500.0 |
- |
$50.0 |
Net annual sales greater than $750.0 |
- |
$50.0 |
Net annual sales greater than $1,000.0 |
- |
$50.0 |
|