Jazz Pharma settles Xyrem patent dispute with Hikma, marketing of generic to commence in 2023; shares ahead 5% after hours

|About: Jazz Pharmaceuticals, ... (JAZZ)|By:, SA News Editor

Jazz Pharmaceuticals (NASDAQ:JAZZ) resolves its patent infringement litigation with Hikma Pharmaceuticals PLC related to top seller Xyrem (sodium oxybate). The litigation had been pending at the district court level since 2010 when Roxane Labs filed an Abbreviated New Drug Application (ANDA) seeking approval to market a generic version. Hikma acquired Roxane in February of this year.

Under the terms of the settlement, Hikma and subsidiary West-Ward Pharmaceuticals may sell a generic version of Xyrem on January 1, 2023 or earlier under certain circumstances. It will be marketed under Jazz's Risk Evaluation and Mitigation Strategy (REMS) program with Jazz receiving a "meaningful royalty."

JAZZ is up 5% after hours on average volume.