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This excerpt taken from the ELN 6-K filed Mar 31, 2008. Net
Gain on Divestment of Product
In March 2006, we sold the Prialt European rights to
Eisai and received $50.0 million at closing and are
entitled to receive an additional $10.0 million on the
earlier of two years from closing or launches of Prialt
in key European markets. We recorded a net gain of
$7.4 million on this sale, which included both the
$50.0 million and the present value of the additional
$10.0 million consideration. We may also receive an
additional $40.0 million contingent on Prialt
achieving revenue related milestones in Europe. Due to its
contingent nature, this amount was not included in determining
the net gain recorded in 2006. As of 31 December 2007, we
have received $8.0 million of the $10.0 million
related to the launches of Prialt in key European markets.
This excerpt taken from the ELN 6-K filed Mar 30, 2007. Net
Gain on Divestment of Product
In March 2006, we sold the Prialt European rights to
Eisai. We received $50.0 million at closing and are
entitled to receive an additional $10.0 million on the
earlier of two years from closing or launches of Prialt
in key European markets. We recorded a
40 Elan
Corporation, plc 2006 Annual Report
Table of Contents
Financial Review
net gain of $7.4 million on this sale. We may also receive
an additional $40.0 million contingent on Prialt
achieving revenue related milestones in Europe. As of
31 December 2006, we have received $4.0 million of the
$10.0 million related to the launches of Prialt in
key European markets.
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