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Research and Development Collaboration and Licensing Agreements
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12 Months Ended | ||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Research and Development Collaboration and Licensing Agreements | Research and Development and Collaboration and Licensing Agreements The Company has entered into various collaborative agreements that provide rights to develop, produce and market products using certain know-how, technology and patent rights maintained by the Company's collaborative partners. Terms of the various collaboration agreements may require us to make milestone payments upon the achievement of certain product research and development objectives and pay royalties on future sales, if any, of commercial products resulting from the collaboration. Certain of the licensing agreements require guaranteed minimum royalty payments. Terms of the licensing agreements generally range from the remaining life of the patent up to 17 years and, in some cases, may be subject to earlier termination by either party upon specified circumstances. Total expense incurred under all research and development collaboration and licensing agreements for royalties, milestone payments, and research funding obligations, including amortization, during the years ended December 31, 2014, 2013 and 2012 was $13.6 million, $12.0 million and $5.5 million, respectively. Future minimum guaranteed payment obligations for royalties, milestone payments, and research funding obligations under all such agreements at December 31, 2014 are as follows (in thousands):
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