Nastech, RiboGene deal

The companies amended their 1987 agreements relating to the nasal delivery of metoclopramide and propranolol. The companies canceled NSTK’s buy-back option to RiboGene’s Emitasol and Migrastat. In return, NSTK (Hauppage, N.Y.) will receive royalties in the first two years of product sales - 5 percent in the first three years and 7 percent thereafter.

NSTK originally was to begin receiving royalties in the third year, at 5 percent, raising to 7 percent in following years. NSTK also received the right of first refusal to perform certain intranasal dosage form development work that might be contracted by RiboGene in the future. ...