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Collaborative Agreements
12 Months Ended
Dec. 31, 2024
Collaborative Agreements  
Collaborative Agreements Collaborative Agreements
GlaxoSmithKline
In July 2012, as amended in November 2013, the Company entered into an agreement with GlaxoSmithKline ("GSK"), pursuant to which Amicus obtained global rights to develop and commercialize Galafold® as a monotherapy and in combination with ERT for Fabry disease (“Collaboration Agreement”). Under the terms of the Collaboration Agreement, GSK is eligible to receive post-approval and sales-based milestones up to $40 million, as well as tiered royalties in the mid-teens in eight major markets outside the U.S.
As of December 31, 2024, the contingent milestone payments due to GSK were $4.7 million and are recorded within the other current and other non-current liabilities accounts on the Consolidated Balance Sheets. Sales based tiered royalties due to GSK are recorded within the cost of goods sold within the Consolidated Statements of Operations.
For the year ended December 31, 2024, under the GSK collaboration agreement, the Company incurred approximately $32.7 million of royalty expenses, of which $9.8 million is recorded within accrued expenses in the Consolidated Balance Sheets.