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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): OCTOBER 1, 1996
SONUS PHARMACEUTICALS, INC.
(Exact name of Registrant as specified in charter)
DELAWARE 0-26866 95-4343413
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
22026 20TH AVENUE, S.E., SUITE 102, BOTHELL, WASHINGTON 98021
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (206) 487-9500
NOT APPLICABLE
(Former name or former address, if changed, since last report)
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ITEM 5. OTHER EVENTS
On October 1, 1996, SONUS Pharmaceuticals, Inc. (the "Company" or "SONUS") and
Abbott Laboratories, Inc. ("Abbott") entered into a strategic alliance agreement
with respect to EchoGen(R), a proprietary ultrasound contrast agent developed by
SONUS, for cardiology and radiology uses, that will expand Abbott's licensed
territory to include the following: Europe, Latin America, Canada, Middle East,
Africa, and certain Asia/Pacific Rim countries. Under the agreement, SONUS has
primary responsibility for clinical development and regulatory affairs for
EchoGen(R) in the European Community (EC). Abbott assumes primary responsibility
for all marketing, sales, and technical support of EchoGen(R) throughout the
international territory, and all necessary clinical development and regulatory
affairs in the international territory outside the EC. SONUS has retained
certain co-promotion rights to EchoGen(R) in the major countries of the
international territory.
Under the agreement, Abbott has agreed to pay SONUS $34.6 million in license
and milestone payments for the international territory, a portion of which will
be credited against future royalties. In addition, Abbott has agreed to pay
SONUS a royalty that ranges from 36% to 42% of EchoGen(R) net sales based on
annual sales, which includes the cost of the product. The agreement spans the
life of the patents relating to EchoGen(R) in the countries of the territory.
ITEM 7. FINANCIAL STATEMENTS,PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(A) Financial Statements
Not Applicable
(B) Pro Forma Financial Information
Not Applicable
(C) Exhibits
Number Description
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10.28 International License Agreement between
Abbott Laboratories, Inc. and SONUS
Pharmaceuticals, Inc., dated October 1,
1996.
99.1 Press Release, dated October 7, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SONUS PHARMACEUTICALS, INC.
Date: October 8, 1996 By: /s/ Gregory Sessler
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Gregory Sessler,
Chief Financial Officer
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EXHIBIT INDEX
Exhibit Number Description
10.28 International License Agreement between Abbott
Laboratories, Inc. and SONUS Pharmaceuticals, Inc.,
dated October 1, 1996.
99.1 Press Release, dated October 7, 1996.
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