Question-and-Answer Session
Operator
(Operator instructions) We will go first to Scott Henry with Roth Capital.
Scott Henry – Roth Capital
I think everything is pretty straight forward this quarter. Obviously a lot of things to watch in the second half of the year, but a couple of minor questions. Glumetza roughly $6.6 million, is that a good number relative to scripts or is there stocking in either direction on that product?
Carl Pelzel
We haven’t had any active stocking this year. What we have seen in fact is that the pipeline has shrunk a little bit, so wholesales traditionally were keeping 3 to 4 weeks of stock. It’s down to about 2, not really critical, those fluctuations often happen in the market place, but it’s not the result of anything that we’ve done. So no stocking efforts on our part.
Scott Henry – Roth Capital
Carl, just a bigger picture question. Anything new on Solvay? Obviously people looking at that business for purchase. Any thoughts how that could impact DepoMed?
Carl Pelzel
I guess the one thing to mention is that there are no provisions in the contract—change of control provision—that could change the obligations that Solvay or an acquirer might have, so if another words, if Solvay is acquired, the acquirer would have the same sales, marketing performance obligations that are currently in the contract, so over and above that, I’d just have to refer folks to Solvay for comment.
Scott Henry – Roth Capital
As we look out for the rest of the year, maybe if you could just review the calendar as far as potential announcements in terms of what order would you expect things to happen as well as with Covidien and the Parkinson program in addition to the obvious big two programs.
Carl Pelzel
I would expect that we’d be able to announce the first Covidien formulation some point in the near future. We would then be announcing the results of the Parkinson’s program in the third quarter, and then in the fourth quarter, the big events occur. That’s when we announce the results of the PHN and the Breeze 1 and Breeze 2 trial, and then interspersed in there could be additional business development deals that we haven’t talked about publicly, but might include some of the divestiture of non-core assets that we have alluded to.
Scott Hendry – Roth Capital
When I look at it, it seems to me that the chances would heavily favor getting the hot flashes data before the PHN because hot flashes has completed enrollment. PHN won’t even complete till late August. I know you guys have said that they both happen around the same time, but is it reasonable to think that hot flashes should occur first?
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