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RPT-BRIEF-Hikma enters into settlement agreement with Jazz
April 6, 2017 / 6:55 AM / 6 months ago

RPT-BRIEF-Hikma enters into settlement agreement with Jazz

(Repeats to additional subscribers)

April 6 (Reuters) - Hikma Pharmaceuticals Plc:

* Hikma enters into settlement agreement with Jazz

* Enters into settlement agreement with Jazz for sodium oxybate

* Announces that it has entered into a settlement agreement with Jazz Pharmaceuticals Plc

* Settlement that resolves patent litigation related to Jazz’s xyrem (sodium oxybate) oral solution, 500mg/ml product

* Under settlement agreement, Jazz will grant Hikma, right to sell an authorised generic of xyrem in US market commencing on 1 Jan 2023 or earlier under certain circumstances

* Initial term of AG arrangement is six months and Hikma has option to extend AG term for up to a total of five years

* Jazz has also granted Hikma a licence to market generic sodium oxybate pursuant to its anda at end of AG term

* Hikma will pay Jazz a royalty on net sales of AG product, but will initially retain a meaningful percentage of net sales

* Royalty rate paid to Jazz will increase should AG term be extended beyond one year

* Specific financial and other terms related to settlement agreement are confidential Source text for Eikon: For statement from Jazz Pharmaceuticals, click on: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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