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This excerpt taken from the LLY 10-K filed Feb 22, 2010. Merck
KGaA
A development and license agreement between ImClone and Merck
KGaA (Merck) with respect to Erbitux granted Merck exclusive
rights to market Erbitux outside of the U.S. and Canada,
and co-exclusive rights with BMS and ImClone in Japan. Merck
also has rights to manufacture Erbitux for supply in its
territory. We manufacture and provide a portion of Merck’s
requirements for API, which is included in net product sales. We
also receive a royalty on the sales of Erbitux outside of the
U.S. and Canada, which is included in collaboration and
other revenue as earned. Collaborative reimbursements received
for supply of product; for research and development; and
marketing, selling, and administrative expenses are recorded as
a reduction to the respective expense line items on the
consolidated statement of operations. Royalty
52
expense paid to third parties, net of any royalty reimbursements
received, is recorded as a reduction of collaboration and other
revenue.
These excerpts taken from the LLY 10-K filed Feb 27, 2009. Merck
KGaA
A development and license agreement between ImClone and Merck
KGaA (Merck) with respect to Erbitux granted Merck exclusive
rights to market Erbitux outside of North America and
co-exclusive rights with BMS in Japan. Merck also has rights to
manufacture Erbitux for supply in its territory. We manufacture
and provide a portion of Merck’s requirements for API; we
also receive a royalty on the sales of Erbitux outside of the
U.S. and Canada, both of which are included in net sales as
earned. Collaborative reimbursements received for supply of
product for research and development, reimbursement of a portion
of royalty expense, and marketing, selling, and administrative
expenses are recorded as a reduction to the respective expense
line items on the consolidated statement of operations. Royalty
expense paid to third parties is included in cost of sales.
Merck KGaA A development and license agreement between ImClone and Merck KGaA (Merck) with respect to Erbitux granted Merck exclusive rights to market Erbitux outside of North America and co-exclusive rights with BMS in Japan. Merck also has rights to manufacture Erbitux for supply in its territory. We manufacture and provide a portion of Merck’s requirements for API; we also receive a royalty on the sales of Erbitux outside of the U.S. and Canada, both of which are included in net sales as earned. Collaborative reimbursements received for supply of product for research and development, reimbursement of a portion of royalty expense, and marketing, selling, and administrative expenses are recorded as a reduction to the respective expense line items on the consolidated statement of operations. Royalty expense paid to third parties is included in cost of sales.
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