'payment milestone' is correct and can be used in written English.
It is a noun phrase that is often used in business contexts. For example, "The project was completed on schedule, reaching all the payment milestones outlined in the contract."
The Guardian has been told that the Phoenix Group agreement, which was signed by Phillips, included payment milestones for September and October, which were not met.
Last March, our team experienced a huge payment volume milestone.
If proof-of-concept studies are successful, the outsourcing firm regains rights to the compound in exchange for later milestone payments, royalty payments and co-promotion rights in particular geographies.
In the past, big pharmaceutical companies would often pay for clinical trials and give a biotechnology company some money up front, various payments at milestones along the way, and a royalty on product sales.
Once you've got the negotiation complete, the customer has to pay — and there may be payments by milestones or by certain dates or however it's outlined in the contract.
We set other payments to milestones, effectively giving full control to our clients.
Under the agreement, Schering, based in Berlin, will make up-front and research-support payments of $28 million over five years, plus milestone payments of $60 million.
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.
