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 Net Sales less Cost of Goods Sold.
Examples of Product Profit in a sentence
AL shall receive 100% of the first $1 million of lifetime Product Profit as compensation for previously incurred development costs; thereafter, AL shall receive 25% of all Product Profit, SCS shall receive 12.5% of all Product Profits, and DCP shall receive 12.5% of all Product Profit (collectively the “Profit Shares”), and Eton shall retain the remaining 50% of the Product Profits.
Exhibit 6.7 attached hereto shall illustrate, by way of example only and not as a limitation of any kind, the method agreed by the Parties under this Article 6 for calculating and splitting the U.S. Product Profit.
If the U.S. Adjustment Amount is positive for one Party and negative for the other Party, then the Party with the positive U.S. Adjustment Amount shall pay such amount to the other Party, so that each Party receives or bears fifty percent (50%) of the U.S. Product Profit for such calendar quarter.
Commencing on the date of acceptance by the FDA of the U.S. NDA for the Product, the U.S. Product Profit for each calendar year (or portion thereof less than a full calendar year) shall be shared equally between the Parties, fifty percent (50%) for SuperGen and fifty percent (50%) for Xxxxxx.
In the event of negative Product Profit for a particular ZIOPHARM Product in any calendar quarter, neither ZIOPHARM nor Intrexon shall owe any payments hereunder with respect to such ZIOPHARM Product.
More Definitions of Product Profit
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.
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 Net Sales less Allowable Expenses. 1.42 “Product-Specific Program Patent” means any issued Intrexon Patent where all the claims are directed to Inventions that relate solely and specifically to ZIOPHARM Products. [*****]. 1.43 “Proposed Terms” has the meaning set forth in Section 11.2. 1.44 “Prosecuting Party” has the meaning set forth in Section 6.2(c). 1.45 [*****]. 1.46 [*****]. 1.47 “Retained Product” has the meaning set forth in Section 10.4(a). 1.48 “Reverted Product” has the meaning set forth in Section 10.4(c). 1.49 “SEC” means the United States Securities and Exchange Commission. 1.50 “Sublicensing Revenue” means any cash consideration (including upfront payments, milestone payments, and royalties), and the cash equivalent of all other consideration, actually received by ZIOPHARM or its Affiliate from a Third Party in consideration for a grant of a sublicense under the Intrexon IP or any rights to develop or commercialize ZIOPHARM Products, but excluding: (a) any amounts paid as bona fide reimbursement for research and development costs to the extent incurred following such grant; (b) bona fide loans or any payments in consideration for a grant of equity of ZIOPHARM to the extent that such consideration is equal to or less than fair market value (i.e. any amounts in excess of fair market value shall be Sublicensing Revenue); or (c) amounts received from sublicensees in respect of any ZIOPHARM Product sales that are included in Net Sales. 1.51 “Superior Therapy” means a cancer therapy in the Field that, based on the data then available, (a) demonstrably appears to offer superior efficacy, safety or cost, as compared with both (i) those therapies that are marketed (either by ZIOPHARM or others) at such time for a given cancer indication and (ii) those therapies that are being actively developed by ZIOPHARM for such cancer indication; (b) demonstrably appears to represent a substantial improvement over such existing therapies; and (c) has intellectual property protection and a regulatory approval pathway that, in each case, would not present a significant barrier to commercial development. 1.52 “Support Memorandum” has the meaning set forth in Section 11.2. 1.53 “Third Party” means any individual or entity other than the Parties or their respective Affiliates. 1.54 [*****]. 1.55 “Third Security” means Third Security, LLC. 5 1.56 “Territory” means the entire world. 1.57 “US GAAP” means generally accepted accounting principles in the United State...
Product Profit means Net Sales of Products by Novartis, its Affiliates and sublicensees in the US, less the following amounts: (a) the Fully Burdened Manufacturing Costs of Products sold in the US; (b) an amount equal to [...***...] percent ([...***...]%) of the [...***...] amount for [...***...]; and (c) the direct cost of each Party's Scientific Operations organization engaged in activities with respect to the Product in the US and each Party's medical education activities relating to the Product in the US. No cost item subject to inclusion in the calculation of Product Profits will be included more than once in calculating Product Profits.