12-03 :: March/April 2012
nanotimes
Companies Facts
of niche brands and generic products. Éclat has one approved product on the market, Hycet®
(hydroco-
done acetaminophen oral solution), as well as a suite of products in various stages of development.
Under the terms of the acquisition, a newly formed US subsidiary of Flamel has issued a $12 million senior note to Éclat Holdings, LLC, the former owner of Éclat, that is guaranteed by Flamel and its subsidi- aries and secured by the equity interests and assets of Éclat. The note is payable over six years only if certain contingencies tied to the approval and net sales of certain Éclat products are satisfied. The note accrues interest at an annual rate of 7.5%, payable in kind, until satisfaction of certain of the foregoing contingencies. Flamel also will pay Éclat Holdings an earnout payment of 20% of the gross profit generated by the Éclat launch products.
In addition to the note, Flamel has issued two war- rants that are subject to shareholder approval. One warrant is exercisable for up to 2,200,000 American Depositary Shares (ADSs), each representing one Ordinary Share, of Flamel at an exercise price of $7.44 per share, and the second warrant is exercis- able for up to 1,100,000 ADSs at an exercise price of $11.00 per share. The warrants are exercisable for a six year term, and Flamel also has committed to registering the ADSs underlying the warrants with the SEC if shareholder approval is obtained. If share- holder approval is not obtained, the warrants will be cash settled, and the term will be extended to seven years. The warrants also contain a limitation gene- rally preventing them from being exercised during any time that would result in the holder beneficially owning greater than 19.985% of our ordinary shares.
Moreover, for the calendar year 2011, Flamel re- ported total revenues of $32.6 million, compared to $37.1 million in 2010. License and research revenue during 2011 was $10.6 million versus $19.7 million in 2010. Product sales and services for the year 2011 increased to $13.4 million, from $8.2 million in the year-ago period. Other revenues, consisting primarily of royalty income from sales of Coreg CR by GSK, totaled $8.6 million in 2011 versus $9.2 million in 2010.
http://www.flamel.com I
llumina, Inc. (NASDAQ: ILMN) announced estimated first quarter revenue of approximately
$270 million. This number is based on a preliminary estimate and remains subject to review by Illumina‘s independent registered public accounting firm. Analysis of the remainder of the income statement is incomplete, but the company expects non-GAAP EPS to be at or above current consensus estimates. Full quarterly results will be announced later this month.
http://www.illumina.com I
MS Nanofabrication AG (IMS) is commencing cooperates with Dai Nippon Printing Co., Ltd.
(DNP), Intel Corporation, and Photronics Inc. a joint electron multi-beam mask writer tool collabora- tion to advance development of IMS’ electron multi- beam projection technology.
http://www.ims.co.at/
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