When Approval for a Drug “Indication” Gets Murky: Drafting Milestones to Avoid Disputes
Cooley M&A
APRIL 7, 2017
According to a recent study by SRS of recent private life sciences deals, disputes over earn-outs arose in about one-third (36%) of all milestones that were expected to be hit by September 2016. [1] While most disputes were not about contract interpretation issues regarding whether an event triggered the milestone or not, [2] one recent dispute in the Delaware Court of Chancery illustrates the potentially significant value at stake when these interpretation issues do occur.
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