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S-P/Santarus deal

This article was originally published in The Tan Sheet

Executive Summary

Santarus announces a $5 mil. milestone relating to progress on clinical product development for proton pump inhibitor products using the company's patented PPI technology has been achieved under its over-the-counter license agreement with Schering-Plough. Santarus expects to receive the milestone within 30 days, the firm states in a July 20 release. Santarus already received a $15 million upfront license fee in November and, upon the achievement of certain regulatory and sales milestones, may receive up to an additional $60 million in milestone payments. The companies hope the proton pump inhibitor will have an edge against Procter & Gamble's Prilosec OTC in the heartburn market ( 1"The Tan Sheet" Oct. 23, 2006, p. 3)...
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