Women's Health Weekly
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Business Update
Company guaranteed $37 million in 5 years for rights to anti-aging skin product
September 8th, 2005
Senetek PLC (SNTKY), a healthcare technologies company focused on the development and commercialization of products for anti-aging markets, announced the signing of a new agreement with its marketing partner Valeant Pharmaceuticals International (VRX). Valeant will receive expanded distribution rights for Kinetin, which it now markets under the brand Kinerase and exclusive worldwide manufacturing and marketing rights to Zeatin. In exchange for these grants, Senetek PLC will receive minimum guaranteed annual royalty payments in the amounts of $6 million in 2006, $7 million in 2007 and $8 million each in 2008, 2009 and 2010 before existing credits plus the potential for...
Source: Women's Health Weekly (2005-09-08)
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