- Durata Therapeutics (NASDAQ:DRTX) exercised its right to defer the $25M milestone payment due Pfizer (NYSE:PFE) that was triggered by the first commercial sale of Dalvance (dalbavancin). The milestone was established in 2009 as part of Durata's acquisition of Vicuron Pharmaceuticals from Pfizer.
- In lieu of the cash payment, Durata delivered a $25M promissory note to Pfizer that bears 10% interest compounded annually and matures on July 7, 2019.
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at Benzinga.com (Dec 31, 2014)
at CNBC.com (Oct 6, 2014)
at MarketWatch.com (Oct 6, 2014)
at CNBC.com (Aug 4, 2014)
at MarketWatch.com (May 27, 2014)
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