Successful Business Transaction

Successful Business Transaction. Means any contractual or other form of legally binding commercial arrangement relating to the development, commercialization and sale of a Novirio HBV Drug Candidate in the Territory, which (i) is entered into between Novirio and a Significant Asian Company on or prior to January 31, 2001 for L-dT and on or prior to the later of June 30, 2001 or 30 days after the date clinical data from val-L-dC Phase I/II clinical trial becomes available for val-L-dC; and (ii) contemplates: (x) the Significant... Asian Company bearing or reimbursing Novirio for all costs (which costs are estimated to approximate US$50 million in the aggregate) of development and global registration of the licensed Novirio HBV Drug Candidate; and (y) the payment by the Significant Asian Company to Novirio of royalties in an amount equal to or exceeding twenty percent (20%) of the net wholesale prices charged by the Significant Asian Company or its designee to an unrelated third party less reasonable returns, allowances and rebates, in the Territory. View More