Product Profit means Net Sales less Allowable Expenses.
Product Profit means the profit or loss for a particular Co-Funded Product for a particular period calculated as described in Exhibit B.
Product Profit means (a) gross sales of Collaboration Products (i.e. all amounts invoiced on sales of Collaboration Products by a Party or its Affiliates), less (b) Commercialization Costs, and (c) deductions for items listed in 1.92(a)-(d) to the extent actually allowed or taken by the Lead Commercialization Party and not otherwise recovered by or reimbursed to the Lead Commercialization Party. For sake of clarity, Product Profit shall be determined prior to application of any income taxes.
Examples of Product Profit in a sentence
PDL shall be entitled to [ * ] of Product Profit from the sale of Co-Funded Products and EXEL shall be entitled to [ * ] of such Product Profit until such time as, and so long as, [ * ] of the cumulative Product Profit for all Co-Funded Products equals [ * ] of the amount paid to EXEL under Section 9.2 (i.e., [ * ]).
If the Product Profit for such calendar quarter was negative, then EXEL shall pay the EXEL Share to PDL within [ * ] after receipt of the Quarterly Report.
The respective shares of Product Profit are referred to below as the "PDL Share" and the "EXEL Share." The respective profit sharing described in this Section 9.9(a) may be adjusted for particular Co-Funded Products pursuant to Section 3.7(b).
Whenever cumulative Product Profit exceeds such amount, each Party shall be entitled to [ * ] of the subsequent Product Profit from the sale of Co-Funded Products.
If the Product Profit for such calendar quarter was positive, then PDL shall pay the EXEL Share to EXEL within [ * ] after sending the Quarterly Report to EXEL.
More Definitions of Product Profit
Product Profit means Net Sales less Cost of Goods Sold.
Product Profit has the meaning set forth in Section 5.1(a) of this Agreement.
Product Profit means [*]. For purposes of this Agreement, “Hospital Outflow” means prescriptions written in a hospital, not tied to a specific physician, but filled in a retail pharmacy. For clarification, an example for calculating the Co-Promotion Fee is attached in Appendix X. Xxxxx Profit and Product Profit shall be calculated by Salix by applying GAAP in a manner consistent with prior periods. For purposes of calculating the Co-Promotion Fee, in no event shall the Gross Profit be less than [*] percent ([*]%) of Gross Sales of the Product, as invoiced. In the event that any part of the NDC Data Source data for a Contract Year Quarter is not made available to Salix in time to meet the [*] day deadline contemplated above, Salix shall utilize the available prescribing data from the first two (2) calendar months of such Contract Year Quarter to make a good faith estimate of the prescriptions written during the final calendar month of such Contract Year Quarter and deliver to Altana a Co-Promotion Fee within the [*] day deadline that is calculated based upon such estimate. Any over or underpayment thereafter determined to have been made when full data for such Contract Year Quarter is available shall be applied against the Co-Promotion Fee for the next Contract Year Quarter.
Product Profit means a positive Product Profit/Loss, and “Product Loss” means a negative Product Profit/Loss.
Product Profit means the profits or losses resulting from the Commercialization of Collaboration Products and shall be equal to Net Sales of Collaboration Products less Commercialization Expenses; provided, however that [***]. Product Profit shall also include [***].
Product Profit means the profits or losses resulting from the Commercialization of Collaboration Products and shall be equal to Net Sales of Collaboration Products less Commercialization Expenses; provided, however that [ * ] . Product Profit shall also include [ * ] . “Program Invention” means any process, formula, method, chemical compound, biological or physical material (including ADC Product Candidates, and Unilateral Products), invention, technology, know-how, trade secret or data conceived or reduced to practice by either Party or jointly by both Parties in the conduct of the activities under the ADC Research Program, or in the development or commercialization of Unilateral Products outside of the Collaboration Program and solely in accordance with the licenses and rights set forth under this Agreement and/or under the Initial Agreement only; provided, that Program Inventions shall not include Improvement Inventions to Seattle Genetics Material/Technology (as defined in the Initial Agreement) made pursuant to the Initial Agreement that are not related to a Designated Antigen or an Exclusive Antigen, each of which shall remain governed by the terms of the Initial Agreement. Program Inventions shall not include Collaboration Inventions. “Promotional Materials” has the meaning set forth in Section 8.6. “Publication” has the meaning set forth in Section 14.6. “Regulatory Approval” means final regulatory approval (including, where applicable, pricing approval in the event that actual sales do not take place before such approval) required to market a Product for a disease or condition in accordance with the Applicable Laws and regulations of a given country. In the United States, its territories and possessions, Regulatory Approval means approval of a New Drug Application (“NDA”), Biologics License Application (“BLA”) or an equivalent by the FDA. “Regulatory Authority” means the FDA, the EMEA, or any comparable national or territorial regulatory entity within the Territory having substantially the same functions. -15-
Product Profit means the worldwide profits or losses resulting from the Commercialization of Products and shall be equal to Net Sales plus any Partnering Revenue, less Allowable Expenses.