Common use of Product Development and Commercialization Clause in Contracts

Product Development and Commercialization. 13.1 XXXXXXX'X DEVELOPMENT RESPONSIBILITIES. Xxxxxxx shall be solely responsible for and have the sole right to select a compound for development into a Product. Once such a compound is selected for development, Xxxxxxx shall be solely responsible for and shall have the sole right to develop such compound throughout Pre-phase I and Phases I, II and III including making all Drug Approval Applications and obtaining all Regulatory Approvals on a worldwide basis. In this regard, Xxxxxxx agrees to carry out development of such compound consistent with its normal business practices. This development effort shall include the right to slow or terminate development and all other actions deemed by Xxxxxxx to be reasonable in the development of the compound. Moreover, Xxxxxxx shall be responsible for all cost and expenses in connection with such development efforts.