Xoma Opts For Lower Raptiva Royalty In Lieu Of Loan Repayment To Genentech
This article was originally published in The Pink Sheet Daily
Executive Summary
Under the revised agreement, Xoma will receive a “mid-single digit royalty” on worldwide sales of Raptiva plus a royalty based on U.S. sales above a certain level. In return, Genentech will eliminate Xoma’s $40 mil. balance on a development loan.
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