In addition, Ovation Pharma has agreed to certain upfront minimum purchases
of CIRCUMserum based upon an agreed upon transfer price and yearly minimum purchases
The company signed a contract with VG Energy on September 20,2011 which is exclusive to both parties in defined areas of the UK, and subject to minimum purchases
of USD5m by VG over the next 15 months.
It also characterized the obligation to repay amounts if minimum purchases
were not made as a contingent repayment obligation that would not operate to defer income recognition.
A warning also came today that the Government might have to introduce a system of "minimum purchases
" to stop panic-buying.
The approval is subject to certain conditions, including the accessibility of the distribution network to competitors, minimum purchases
from Polish hop suppliers and the maintenance of the Polish beer brands involved.