definiens: means, with respect to a Party in theperformance of its obligations hereunder, ( a ) where such obligations relate to the Development orCommercialization of a Product, the application by or on behalf of such Party of a level of effortsthat a similarly - situated pharmaceutical company which is engaged in the development andcommercialization of pharmaceutical or biological products, as the case may be, would apply tosuch activities in relation to a similar pharmaceutical or biological product owned by it or to whichit has exclusive rights, which product is at a similar stage in its development or product life and isof similar market potential and strategic value ( in each case as compared to such Product ) takinginto account efficacy, safety, expected labeling, price, the competitiveness of alternative productsin the marketplace sold by Third Parties, the patent and other proprietary position of the product, the likelihood of regulatory approval given the regulatory structure involved, the expected andactual profitability of the product and other relevant factors, based on conditions then prevailing;and ( b ) with respect to any other obligations, the same level of efforts as such Party would applyif it were performing a similar obligation solely on its own behalf