Form 8-K for MEDIVATION, INC.
Completion of Acquisition or Disposition of Assets, Financial Statements and Exh
In connection with the closing of the transaction, Medivation has paid BioMarin the upfront payment of $410 million. Under the terms of the Agreement, Medivation will pay BioMarin up to an additional $160 million upon the achievement of regulatory and sales-based milestones, and mid-single digit royalties on net sales of products that contain talazoparib during the royalty term specified in the Agreement.
The representations, warranties and covenants contained in the Agreement were made only for purposes of the Agreement, are solely for the benefit of the parties (except as specifically set forth therein), may be made for the purpose of allocating contractual risk between the parties instead of establishing matters as facts, and may be subject to qualifications set forth in confidential disclosure schedules and to standards of materiality and knowledge applicable to the contracting parties that differ from those applicable to the investors generally. Investors should not rely on the representations, warranties and covenants or any description thereof as characterizations of the actual state of facts or condition of the Medivation, BioMarin, or the acquired assets.
The pro forma financial information required by Item 9.01(b) of Form 8-K will be filed by amendment within 71 days after the date upon which this Current Report on Form 8-K must be filed.
Exhibit No. Description 2.1* Asset Purchase Agreement by and between BioMarin Pharmaceutical Inc. and Medivation, Inc. dated August 21, 2015