Does sale of dvp projects classified as revenue?

Hi Sir.

Q34 Calendar
Calendar develops biotech products for pharmaceutical companies, and these companies then manufacture and sell the products.

Calendar receives stage pymts during product dvp and a share of royalties when the final product is sold to customers.

During 20×6, Calendar acquired a dvp project through a business combination and recignised it as intangible asset. In oct 20×7, project sold to competitor.

The gain arising on derecognition of the intangible asset was presented as revenue in the 31 Dec 20x7on the ground that dvp if new product is one of Calendar’s ordinary activities.

Calendar has made 2 similar sales of dvp projects in the past, but none since 20×0.

So does the gain on selling dvp project is correct to be classified as revenue? If it is to be treared as revenue, what is the reason.

Because based on my understanding, it shouldn’t be treated as revenue, as Calendar is doing product dvp, not selling.

Also, intangible assets held for sale in the ordinary course of business should be accounted for in accordance with IAS 2 instead of IAS 38?