REG - Hikma Pharmaceutical - Settlement agreement for Xyrem® US lawsuits

Hikma PharmaceuticalsAnnouncement

08/05/2025 08:30

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RNS Number : 8679H  Hikma Pharmaceuticals Plc  08 May 2025

Hikma announces settlement agreement for Xyrem® (sodium oxybate) U.S. class
action lawsuits

 

·    Hikma has entered into a preliminary class settlement agreement that
resolves the majority of its Xyrem(®) (sodium oxybate) antitrust class action
cases in the US

·    Under the agreement and subject to court approval, Hikma would pay up
to $50 million in cash

 

London, 8 May 2025 - Hikma Pharmaceuticals PLC, along with its wholly owned
subsidiary Hikma Pharmaceuticals USA Inc. (the Company), today announced that
it has reached an agreement to resolve the majority of the class action
antitrust lawsuits brought against the Company by third-party payors in the US
who have purchased or been billed for Xyrem(®) (sodium oxybate).  These
matters have been previously disclosed as contingent liabilities in our
financial disclosures.

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

The settlement is subject to court approval and resolves the majority of the
cases pending against Hikma. If all conditions are satisfied, Hikma agrees to
pay up to $50 million in cash.

This settlement is not an admission of wrongdoing or liability, and Hikma will
continue to defend itself vigorously against any litigation that this
settlement does not resolve.

 

- ENDS -

Enquiries
 
 

 Susan Ringdal                                                                +44 (0)20 7399 2760/ +44 (0)7776 477050

 EVP, Strategic Planning and Global Affairs
 Guy Featherstone                                                             +44 (0)20 3892 4389/ +44 (0)7795 896738

 Director, Investor Relations
 Layan Kalisse                                                                +44 (0)20 7399 2788/ +44 (0)7970 709912

 Senior Associate, Investor Relations

 

FTI Consulting          (Press):
 

Ciara Martin
 
     +44 (0)7779 775979

 

 

About Hikma

(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated BBB-/stable S&P and
BBB-/positive Fitch)

 

Hikma helps put better health within reach every day for millions of people
around the world. For more than 45 years, we've been creating high-quality
medicines and making them accessible to the people who need them.
Headquartered in the UK, we are a global company with a local presence across
North America, the Middle East and North Africa (MENA) and Europe, and we use
our unique insight and expertise to transform cutting-edge science into
innovative solutions that transform people's lives. We're committed to our
customers, and the people they care for, and by thinking creatively and acting
practically, we provide them with a broad range of branded and non-branded
generic medicines. Together, our 9,500 colleagues are helping to shape a
healthier world that enriches all our communities. We are a leading licensing
partner, and through our venture capital arm, are helping bring innovative
health technologies to people around the world. For more information, please
visit: www.hikma.com
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©2025 Hikma Pharmaceuticals PLC. All rights reserved.

 

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