LONDON (ShareCast) - (ShareCast News) - Hikma said it has settled a legal dispute with Jazz Pharmaceuticals over a patent related to Jazz's narcolepsy treatment Xyrem.
Under the settlement agreement, Jazz will grant Hikma and its wholly owned subsidiary, West-Ward Pharmaceuticals, the right to sell an authorised generic of Xyrem in the US market from 1 January 2023 or earlier under "certain circumstances".

The initial deal will last six months and Hikma has the option to extend for up to five years. Jazz has also granted Hikma a licence to market a generic product at the end of the agreement period.

Hikma said it will pay Jazz a royalty on net sales of the generic product, but will initially retain a "meaningful percentage" of net sales.

It will also pay for the supply of the generic and reimburse Jazz for a portion of the service costs associated with the deal. The royalty rate paid to Jazz will increase if the generic term is extended beyond one year.

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