We also compete with other providers, including anatomic pathology practices and large physician group practices. We primarily compete with three types of clinical testing providers: commercial clinical laboratories, hospital-affiliated laboratories and physician-office laboratories. While there has been significant consolidation in the diagnostic information services industry in recent years, our industry remains fragmented and highly competitive. The Company is evaluating options with respect to this asset.Ĭompetition. The obligation to pay royalties generally coincides with the life of the underlying patents. We are also entitled to receive single digit royalty payments from the sale of drugs, if any, resulting from the program. We are entitled to receive future milestone payments based on development progress for each potential product under the agreement. Merck may not successfully develop or commercialize any compounds covered by the agreement, may not obtain needed regulatory approvals, and may not sell any products that would generate royalty payments to us, and we may not receive any further payments under this agreement. We do not control the development activities conducted by Merck. under which Merck has a license to our intellectual property for the development of, among other things, small molecule inhibitors of cathepsin K. The Company has an interest in a non-commercial, development state drug asset: an agreement with Merck & Co., Inc. We also look for innovations and solutions that are less invasive than currently available options, to increase the choices that healthcare providers and patients have for the collection of diagnostic samples. In addition, we aim to develop holistic solutions responsive to challenges that healthcare providers and patients face, by developing solutions of multiple tests, information and services focused on specific clinical challenges, and taking advantage of the latest informatics capabilities. We seek to develop innovations and solutions that help to determine a patient's genotype or gene expression profile relative to a particular disease and its potential therapies, because they can help healthcare providers to determine a patient's susceptibility to disease or to tailor medical care to an individual's needs - such as determining if a medication might be an optimum choice for a particular person, or tailoring the right dosage once the proper medicine is prescribed. We seek innovations and solutions that help healthcare providers care for their patients through better testing for predisposition, screening, monitoring, diagnosis, prognosis and treatment choices.
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