December 23, 2007
No Home Laser Hair Removal Machines Yet - Palomar and Gillette Extend Launch Decision on Home-Use Light Based Hair Removal Device and Agree to Negotiate New Terms
A Burlington-based cosmetic laser manufacturer and the Gillette Co. have delayed the launch of a new product to accommodate further negotiation between the companies.
Palomar Medical Technologies Inc., a researcher and developer of light-based systems for cosmetic treatments, and Gillette have agreed to delay scheduling the launch of an in-home, light-based hair removal device for women until no later than Feb. 29, 2008. Under the agreement, Gillette had until Monday, Jan. 7, 2008 to schedule the launch. Until then, the companies will negotiate a new agreement that may include the release of Palomar from exclusivity and the retention by Gillette of non-exclusive rights to Palomar’s technology and intellectual property, according to Palomar. In return for a release from exclusivity, Palomar said it anticipates a reduction in the percentage of net sales that Gillette pays to Palomar and a change from annual payments under the existing agreement to reduced calendar quarterly payments for a certain period.
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