Common use of Biosimilar Drug Competition Clause in Contracts

Biosimilar Drug Competition. Notwithstanding the foregoing, subject to Section 3.5.3, if in any Calendar Quarter total sales of any Biosimilar(s) of a Licensed Product in any country reaches more than [***] in [***] of the [***] of the applicable Licensed Product and the Biosimilar(s) in such country, then (a) the Royalties payable to Pieris for such Licensed Product in such country shall be reduced by [***] of the amount otherwise payable hereunder and (b) beginning [***] years from the First Commercial Sale of the Licensed Product in such country and thereafter, no further Royalties shall be due for such Licensed Product in such country. Notwithstanding the foregoing, in the event of Biosimilar sales that are later enjoined by a court or otherwise halted (such as on the basis of patent or regulatory exclusivity), then subsequent royalties shall be restored to the level otherwise contemplated under this Agreement.

Biosimilar Drug Competition. Notwithstanding the foregoing, subject to Section 3.5.34.1.2.(d), if in any Calendar Quarter total sales of any Biosimilar(s) of a Licensed Product in any country reaches more than [***] in [***] of the [***] [***] of the applicable Licensed Product and the Biosimilar(s) in such country, then (a) the Royalties payable to Pieris for such Licensed Product in such country shall be reduced by [***] of the amount otherwise payable hereunder and (b) beginning [***] years from the First Commercial Sale of the Licensed Product in such country and thereafter, no further Royalties shall be due for such Licensed Product in such country. Notwithstanding the foregoing, in the event of Biosimilar sales that are later enjoined by a court or otherwise halted (such as on the basis of patent or regulatory exclusivity), then subsequent royalties shall be restored to the level otherwise contemplated under this Agreement.

Biosimilar Drug Competition. Notwithstanding the foregoing, subject to Section 3.5.3, if in any Calendar Quarter total sales of any Biosimilar(s) of a Licensed Product in any country reaches more than [***] in [***] units of the [***] total sales of the applicable Licensed Product and the Biosimilar(s) in such country, then (a) the Royalties payable to Pieris for such Licensed Product in such country shall be reduced by [***] of the amount otherwise payable hereunder and (b) beginning [***] years from the First Commercial Sale of the Licensed Product in such country and thereafter, no further Royalties shall be due for such Licensed Product in such country. Notwithstanding the foregoing, in the event of Biosimilar sales that are later enjoined by a court or otherwise halted (such as on the basis of patent or regulatory exclusivity), then subsequent royalties shall be restored to the level otherwise contemplated under this Agreement.

Biosimilar Drug Competition. Notwithstanding the foregoing, subject to Section 3.5.34.1.2.(d), if in any Calendar Quarter total sales of any Biosimilar(s) of a Licensed Product in any country reaches more than [***] in [***] of the [***] of the applicable Licensed Product and the Biosimilar(s) in such country, then (a) the Royalties payable to Pieris for such Licensed Product in such country shall be reduced by [***] of the amount otherwise payable hereunder and (b) beginning [***] years from the First Commercial Sale of the Licensed Product in such country and thereafter, no further Royalties shall be due for such Licensed Product in such country. Notwithstanding the foregoing, in the event of Biosimilar sales that are later enjoined by a court or otherwise halted (such as on the basis of patent or regulatory exclusivity), then subsequent royalties shall be restored to the level otherwise contemplated under this Agreement.