The FINANCIAL -- Sandoz, a Novartis division and one of the global leaders in biosimilars, announced a global resolution of all intellectual property related litigation with AbbVie concerning the proposed Sandoz biosimilar Hyrimoz for reference medicine Humira.
Under the terms of the agreement, AbbVie grants Sandoz a non-exclusive license to AbbVie's intellectual property relating to Humira, beginning on certain dates in certain countries in which AbbVie has intellectual property. The license period will begin on October 16, 2018 in most countries in the European Union, and on other dates in various other countries outside the US where AbbVie has IP. In the US, the license period will begin on September 30, 2023.
Sandoz will pay royalties to AbbVie for licensing its Humira patents. All litigation pending between the parties will be dismissed. AbbVie will make no payments to Sandoz. The precise terms are confidential between the parties.
Sandoz biosimilar adalimumab was recently approved by the European Commission for the 31 countries of the European Economic area, which comprises the 28 member countries of the European Union plus Norway, Iceland and Liechtenstein. It is the seventh approved Sandoz biosimilar medicine.