Beckman Coulter Announces Fourth Quarter and Full Year 2008 Results; Earnings Outlook Achieved on Strong Fu...(ediation - In 2008 we began conducting e...)
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Beckman Coulter Announces Fourth Quarter and Full Year 2008 Results; Earnings Outlook Achieved on Strong Fundamentals
Date:2/9/2009
ediation - In 2008, we began conducting environmental studies at the Fullerton, California facility in connection with the Orange County facility consolidation and planned closure of our Fullerton site. In connection with these studies we detected certain Contaminants in the soil and groundwater at the site and recorded a $19.0 million environmental remediation charge. The $19.0 million represents our best estimate of future expenditures for evaluation and remediation at the site. c) Royalty buy out - During the third quarter of 2008, we incurred an $11.7 million charge related to buying out our future US royalty payments under a license from Nephromics, LLC ("Nephromics").This fully paid up license relates to future US sales of a number of markers including a preeclampsia panel covered by patents licensed exclusively to Nephromics. The products under the licensing agreements have not received regulatory clearance and are still in the development stage, therefore, the cost was charged to R&D. d) HCV sublicense - During the second quarter of 2008, we entered into an agreement with Siemens Healthcare Diagnostics and recorded an R&D charge of $12.0 million, for sublicense rights relating to testing for the hepatitis C virus (HCV). Under the agreement, we can develop, manufacture and sell a quantitative viral load HCV blood test for use on our molecular diagnostic instrument, which is in development. e) NexGen Acquisition - In November 2007, we acquired the remaining 80.1% interest in NexGen for a total purchase price of $36.0 million. NexGen is a development stage enterprise, which was formed in connection with the acquisition of Lumigen in the prior year. Approximately $35 million of the purchase price was allocated to in- proce
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