Under terms of the license agreement, SPARC will be eligible to receive tiered royalties ranging from 15% to 50% on net sales. Tripoint will be responsible for all US regulatory submissions and payment of annual PDUFA fees for Elepsia™ XR 1000 mg and Elepsia™ XR 1500 mg.
The initial term of the agreement shall be 5 years and may be further extended as per mutual agreement between the parties.
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