Jazz deal strengthens Hikma's hand on Xyrem generic in USA
Jordanian drugmaker Hikma Pharmaceuticals (LSE: HIK) has reached a settlement with Jazz Pharmaceuticals (Nasdaq: JAZZ) that resolves patent litigation related to the Ireland-based company’s Xyrem (sodium oxybate) oral solution, 500mg/mL product.
Jazz will grant Hikma and its subsidiary, West-Ward Pharmaceuticals, the right to sell an authorized generic (AG) of Xyrem in the US market from January 1, 2023, or earlier under certain circumstances.
Used to treat cataplexy (sudden loss of muscle strength) and reduce daytime sleepiness in patients with narcolepsy, Xyrem net sales for 2016 earned Jazz $1.11 billion, according to the company’s annual report.
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