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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 21, 2000
DUSA PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
NEW JERSEY 0-19777 22-3103129
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
25 UPTON DRIVE
WILMINGTON, MASSACHUSETTS 01887
(Address of principal executive offices, including ZIP code)
(978) 657-7500
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
The Registrant, DUSA Pharmaceuticals, Inc. ("DUSA") reports that it has
received fifteen million dollars ($15,000,000.00) from Schering AG ("Schering")
in milestone and other payments, based upon the parties' Marketing, Development
and Supply Agreement entered on November 22, 1999. The payments consist of a
seven million dollar ($7,000,000.00) milestone, and an eight million dollar
($8,000,000.00) unrestricted research grant for use by DUSA at its discretion.
These are the final payments related to DUSA's initial products, the LEVULAN(R)
KERASTICK(R) 20% topical solution, and the BLU-U(TM) brand light device, for the
treatment of non-hyperkeratotic actinic keratoses (AK's) of the face or scalp.
As previously reported, DUSA will receive royalties and supply fees
from Schering AG based upon the sales levels of the KERASTICK(R). DUSA retains
responsibility for BLU-U(TM) leasing/renting to physicians, manufacturing,
installation and maintenance, including revenues and costs generated by these
activities.
Except for historical information, this report and the exhibit contain
certain forward-looking statements that involve known and unknown risk and
uncertainties, which may cause actual results to differ materially from any
future results, performance or achievements expressed or implied by the
statements made. These forward-looking statements relate to DUSA's receipt of
royalties and supply fees from Schering AG, implications of receipt of revenues
from BLU-U(R) activities, and expectations concerning new dermatology and
internal research and development programs and/or other potential uses for its
funds. Such risks and uncertainties include, but are not limited to, development
and maintenance of a market by DUSA's dermatology marketing partner, competitive
products, reimbursement by third-party payors, scientific risks associated with
drug and device development programs, regulatory risks, and other risks
identified in DUSA's SEC filings from time to time.
ITEM 7. FINANCIAL STATEMENTS AND OTHER EXHIBITS.
(c) Exhibits.
[99] Press Release dated December 21, 2000.
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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.
DUSA PHARMACEUTICALS, INC.
Dated: December 21, 2000 By: /s/ D. Geoffrey Shulman
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D. Geoffrey Shulman, MD, FRCPC
President, Chief Executive Officer
