Question-and-Answer Session
Operator
(Operator instructions) One moment, please, for the first question.
Gerry Proehl
While we are waiting for questions, we would like to inform you that we will be presenting at the Friedman, Billings, Ramsey Capital Markets Annual Spring Investor Conference on May 28th at 8:15 a.m., at the Grand Hyatt Hotel in New York City.
If you are attending this conference, we certainly invite you to meet with us in person. If you are unable to attend, a webcast of our corporate presentation will be available on the Santarus website.
Okay, operator, we are ready for the first question.
Operator
Your first question comes from the line of Russell McAllister, of Merriman Curhan Ford.
Russell McAllister - Merriman Curhan Ford
Thank you for taking the questions. I had two questions, I guess, first, for you Gerry. If you could reiterate your earlier comments about the timing around the OTC application, obviously there is some uncertainty there, but if you could reiterate your earlier comments I think that would be helpful.
And then the second one, not sure if this is for you, Gerry, or someone else, but the decision regarding Otsuka, if you could expound a little bit on how you arrived at that and does that have any implications for the Inventive collaboration? Thank you.
Gerry Proehl
Sure. So what I said, Russ, was that, as far as the way the FDA works, once the NDA is submitted, there is basically a 60-day period to file the NDA. That being said, the FDA does not have to officially send an actual correspondence to the NDA filer until 74 days after the filing of the NDA. And so we will know that, from Schering certainly, on the 74th day and that is what I was referring to. They will get correspondence from the FDA by the 74th day after filing the NDA.
Russell McAllister - Merriman Curhan
Terrific and then you had mentioned that the -- although they are not bound by the same PDUFA standards, they tend to try to meet that same general timeline, although I thought the empirical number you had cited was somewhat longer. Is that correct?
Gerry Proehl
Yes, right. So what we said is they do have a 10-month PDUFA date and similar to what they would have for an Rx product. What I was saying is that the average approval of all OTC products over the last few years has been about 18 months and so we are just trying to give some type of a range for folks.
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