Commercially Reasonable Efforts

Commercially Reasonable Efforts. Means, with respect to the efforts to be expended by a party with respect to any objective under this agreement, reasonable, diligent, good-faith efforts to accomplish such objective as such party would normally use to accomplish a similar objective under similar circumstances exercising reasonable business judgment, it being understood and agreed that, with respect to the development, manufacture, and commercialization of a product, such efforts shall be substantially equivalent to those... efforts and resources (including financial resources) commonly used by such party for a product owned by it or to which it has rights, which product is at a similar stage in its product life and is of similar market potential as the product. View More

Commercially Reasonable Efforts. The level of efforts and expenditure of resources required to carry out such obligation in a manner consistent with the efforts and resources Company typically devotes to a product of similar market potential, at a similar stage in its development or product life, taking into account all relevant factors, including, without limitation, safety and efficacy, product profile, cost to develop, cost and availability of supply, the time required to complete development, the competitiveness of the... marketplace (including the proprietary position and anticipated market share of the product), the patent position with respect to such product (including the ability to obtain or enforce, or have obtained or enforced, such patent rights), the third-party patent landscape relevant to the product, the regulatory structure involved, the likelihood of regulatory approval, the anticipated or actual profitability of the applicable product and other technical, commercial, legal, scientific, regulatory and medical consideration. View More

Commercially Reasonable Efforts. Efforts at least consistent with the efforts a party would be expected to devote to a product of similar market potential, profit potential (determined without taking into account payments under this Agreement) or strategic value resulting from its own research efforts, based on conditions then prevailing. In all cases, the level of efforts required of a party in connection with its Development and/or Commercialization efforts (as applicable) shall be determined without reference to any product... other than Products or any other drug development program owned by that Party, its Affiliates or any Sublicensee, or to which any of them have any rights. View More