Wednesday, December 06, 2006 10:11:26 PM
The confusion around this topic is vexing, but it is interesting as well. A poster at IV claims to have replies from both trca and insm IRs saying the royalties are for past sales.
Another poster there gave a link to a Bloomberg follow-up article that said that trca's lawyer said the royalties were for past sales, and insm's lawyer said they were for past and future sales...huh? Have these guys switched roles? Or is this a case of posturing for sympathy in the post-trial judgements?
INSM's PR is actually not fully specific about this, if you read it like a weasel:
"The jury awarded damages of $7.5 million as an upfront payment and a royalty of 15% for sales below $100 million and 20% for sales above $100 million."
To assign royalties for past sales, which total maybe a million, seems trivial, and avoids the real issue of future sales. And so it seems unlikely to me that the jury meant to limit their decision to the past. But who can be sure?
For now I must assume the worst, since it seems most logical. But I wonder what is going on. regards...
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