"milestone payment" is a correct and usable phrase in written English.
You can use it when describing a set of payments made in order to pay for something or to complete a certain task. For example: "The construction company put together a payment plan with a series of monthly payments and a large milestone payment at the end of the project."
LightSquared is currently trying to build a US mobile broadband service using Inmarsat's spectrum, and should have made a $56.25m milestone payment, but this has not been received.
The FDA's acceptance of the EDIT-101 investigational new drug application triggered a $25 million milestone payment from Allergan to Editas.
Dr. Boger said that he thought Vertex and Lilly were the first to announce a hepatitis C protease inhibitor and that Vertex was receiving a $5 million milestone payment from Lilly for the achievement.
This is the first in a series of approvals across Europe that triggers a £2.5m milestone payment to GW. [Further approvals] will further diversify the risk profile in GW from a development to a commercial stage pharmaceutical company.
Finally Oxford BioMedical climbed 23% to 1.74p as the pharmaceutical group announced a $1m milestone payment from Pfizer had been triggered, following the entry of an antibody therapy into clinical trials.
Acceptance of the filing triggers a $50 million milestone payment from co-marketing partner Pfizer.
Medtronic will pay $700 million as well as future milestone payments.
Watson would receive royalties and milestone payments on sales of the drugs.
The agreement includes $340 million in cash upfront and $300 million in future regulatory milestone payments.
Portal will receive an initial payment, with potential to earn milestone payments of up to $100 million.
We determine the optimal values for the upfront payment, milestone payments and royalties, and the optimal timing for outlicensing.
