LONDON (ShareCast) - (Sharecast News) - Hikma Pharmaceuticals said on Thursday that it has entered into a preliminary $50m class settlement agreement that resolves the majority of its Xyrem (sodium oxybate) antitrust class action cases in the US.
The settlement relates o lawsuits brought against the company by third-party payors in the US who have purchased or been billed for Xyrem, a medication used to treat narcolepsy.

Sam Park, Hikma's General Counsel, said: "We are pleased to have reached a settlement agreement that protects the company's interests and provides clarity to our stakeholders.

"We are proud to have facilitated patients' access to a lower-cost authorised generic version of this essential medicine, years ahead of its patent expiration."

Hikma said that the settlement - which is subject to court approval - is not an admission of wrongdoing or liability, and that it will continue to defend itself "vigorously" against any litigation that this settlement does not resolve.

At 1040 BST, the shares were up 0.2% at 2,008p.

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