2023-04-25 09:42:32 ET
- Alkermes ( NASDAQ: ALKS ) said it received a second interim award from the arbitral tribunal in an arbitration linked to two license agreements with Johnson & Johnson's ( NYSE: JNJ ) unit Janssen Pharmaceutica.
- Under the second interim award: back royalties related to fiscal year 2022 of ~$194M, including interest, are due to Alkermes from Janssen under the two agreements.
- A separate Know-How Royalty, as under an applicable license agreement, term applies for each of the schizophrenia therapies — Invega Sustenna, Invega Trinza and Invega Hafyera were as follows:
- The term for Invega Sustenna ends on Aug. 20, 2024; term for Invega Trinza ends in Q2 2030 (not later than May 2030 when the license deal expires); term for Invega Hafyera ends in May 2030.
- Alkermes noted that royalties for HIV-1 therapy Cabenuva in the U.S. are owed until Dec. 31, 2036.
- Alkermes added that this award follows the interim award issued by the tribunal in December 2022, in which the tribunal found that, while Janssen may terminate the license agreements, it may not continue to sell products developed during the term of the agreements without paying royalties.
For further details see:
Alkermes gets tribunal award in J&J license deal arbitration