Replies to post #38487 on Biotech Values

[croumagnon]

Pfizer has european rights to Polyheme

This is an old deal between NFLD and PFE but I think it is still in effect.

http://sec.edgar-online.com/2004/08/16/0000950137-04-006862/Section2.asp

In March 1989, we granted Pfizer an exclusive license to manufacture, promote and sell PolyHeme in a territory encompassing the United Kingdom, Germany, the Scandinavian countries and certain countries in the Middle East. Under the terms of the license agreement, Pfizer has the right, upon consultation with us, to promote and sell PolyHeme in the licensed territory under its own trademark. The license agreement with Pfizer provides for a nonrefundable initial fee, two additional nonrefundable fees based upon achievement of certain regulatory milestones, and ongoing royalty payments based upon net sales of PolyHeme in the licensed territory. The license agreement further provides for a reduction of royalty payments upon the occurrence of certain events. In addition, under the terms of the agreement, we have the right under certain circumstances to direct Pfizer's clinical testing of PolyHeme in the licensed territory.

The timing of Pfizer's demise and the near release of Polyheme Top line data may make NFLD a prime target for Pfizer repatriated money before year-end. The takeover price will depend on the top line data and I think it could be close to $100 per share if PH demonstrates superiority and $40+ per share if PH demonstrates Non-inferiority...