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Royalty Agreements | 12 Months Ended
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Dec. 31, 2011
Royalty Agreements [Abstract] |
Royalty Agreements | ROYALTY AGREEMENTS During 2007, in connection with the purchase of the ProGuide™ chronic dialysis catheter from Datascope Corporation, a New Jersey corporation, ("Datascope") we entered into a running royalty agreement as partial consideration of the assignment of acquired intellectual property to us. Under this agreement, we agreed to pay Datascope a royalty of 5% of net sales, with annual minimum royalty payments of $50,000 for calendar years 2009 through 2013. During each of the years ended December 31, 2011, 2010 and 2009, we paid or accrued a royalty of $50,000 under this agreement. During 2010, in connection with our acquisition of BioSphere, we entered into a running royalty agreement as part of a partnership between BioSphere and L’Assistance Publique-Hôpitaux de Paris, referred to as “AP-HP,” pursuant to which AP-HP has granted us the exclusive license to use two United States patents and their foreign counterparts that we jointly own with AP-HP relating to microspheres. We are required to pay to AP-HP a royalty on the commercial sale of any products that incorporate technology covered by the patents. We may sublicense these exclusive rights under the agreement only with the prior written consent of AP-HP, which consent cannot be unreasonably withheld. Under the terms of the royalty agreement our exclusive license extends for the duration of both (i) the jointly owned U.S. and foreign counterpart patents which will expire in 2014 and 2012, respectively, and (ii) the products and specialties implementing the patents. On January 26, 2010, BioSphere filed patent applications which, if issued, will extend the royalty payments until approximately January 2031. The royalty rate in the agreement is 5.0% of net sales until the patents expire, and 2.5% of net sales thereafter as long as the product is sold. We paid or accrued approximately $1.3 million and $401,000 in royalty payments to AP-HP for the years ended December 31, 2011 and 2010, respectively, after the BioSphere acquisition. See also Note 2 for a discussion of additional future royalty commitments related to acquisitions.

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