SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) April 24, 2007
E. I. du Pont de Nemours and Company
(Exact Name of Registrant as Specified in Its Charter)
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Delaware
(State or Other Jurisdiction
Of Incorporation)
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1-815
(Commission
File Number)
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51-0014090
(I.R.S. Employer
Identification No.) |
1007 Market Street
Wilmington, Delaware 19898
(Address of principal executive offices)
Registrant’s telephone number, including area code: (302) 774-1000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure
Today the Registrant published its news release dated April 24, 2007, entitled “DuPont Reports 15%
Earnings Growth in First Quarter 2007; Reaffirms Full Year Outlook.” During the regularly
scheduled analysts’ call to discuss the first quarter 2007 financial results, the Registrant
provided the following guidance regarding its income from Cozaar® and Hyzaar® under an
exclusive collaboration agreement with Merck & Co., Inc.
This income is the sum of two parts. The first part is a royalty on
worldwide contract net sales linked to the exclusivity term in a particular country, and the second
is a share of the profits from North American sales and certain markets in Europe, regardless of
exclusivity term. Patents and exclusivity have already started to expire and the U.S. exclusivity
for Cozaar® ends in April 2010. The worldwide agreement terminates after 2013, when the Canadian
exclusivity ends, and depending on North American sales levels. Therefore, absent any major
changes in the markets, the Registrant expects its income to take its first significant step-down
in 2010, and from that year on, continue to step-down each year to zero when the contract ends,
which is expected to be after 2013. The Registrant cannot predict the magnitude of the earnings
step-down in each year. In general, investors should therefore expect a traditional sales and
earnings decline for a drug going off patent in the pharmaceutical industry.
The information contained in Item 7.01 of this report on Form 8-K shall not be deemed “filed” for
purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section,
nor incorporated by reference in any registration statement filed by the Registrant under the
Securities Act of 1933, as amended.
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