Biotech
You indicate that the 4 year licensing agreement with Merck ends on 1 July 2014. Do you know what income or benefits that ADO have obtained during the term of this agreement as it is difficult, if not impossible, to establish this from their various reports.
The same applies to the Bangs and other agreements that have been signed and have been in operation for some time.
The amount of income resulting from these existing licensing agreements cannot be determined and it cannot be determined if they have increased annually and, if so, the rate of growth/increase.
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