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News Breaks | | | | March 4, 2013 | | 08:54 EDT |  | CRME | Cardiome announces settlement of debt, termination of line of credit with Merck
Cardiome announced it has made the final payment to Merck, known as MSD outside the United States and Canada, of $13M which has been accepted by Merck as full and final settlement of all amounts owing under the line of credit stemming from the companies' collaboration and license agreement for vernakalant, signed in April 2009. Under the terms of the December 10, settlement agreement between the companies, upon payment of $20M by Cardiome to Merck on or before March 31, Cardiome's outstanding debt of $50M owed to Merck would be settled. Previously, Cardiome made an initial payment of $7M to Merck. Today's final payment of $13M concludes Cardiome's total payment of $20M to Merck and consequently terminates the credit facility and releases and discharges the collateral security Merck had taken in respect of the advances under the line of credit. | |
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News For CRME From The Last 14 Days Check below for free stories on CRME the last two weeks. |
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| May 22, 2013 | | 07:35 EDT |  | CRME | Bloom Burton & Co. to host a conference
 Subscribe for More Information | | | May 13, 2013 | | 09:05 EDT |  | CRME | Cardiome reports Q1 EPS $1.47, one estimate $1.48
Reports Q1 revenue $100,000, one estimate $1.6M | |
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