Common use of Biosimilar Drug Competition Clause in Contracts

Biosimilar Drug Competition. Subject to Section 8.1.3, if in any Calendar Quarter total sales of any Biosimilar(s) of a Royalty Bearing Exclusive Product in any country reaches more than [***] percent ([***]%) in units of the total sales of the applicable Exclusive Product and the Biosimilar(s) in such country, then the Royalties payable to PIRS for such Exclusive Product in such country for such Calendar Quarter shall be reduced by [***] percent ([***]%) of the amount otherwise payable hereunder. 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. Subject Notwithstanding the foregoing, subject to Section 8.1.33.5.3, if in any Calendar Quarter total sales of any Biosimilar(s) of a Royalty Bearing Exclusive Licensed Product in any country reaches more than [***] percent ([***]%) in units of the total sales of the applicable Exclusive Licensed Product and the Biosimilar(s) in such country, then the Royalties payable to PIRS Pieris for such Exclusive Licensed Product in such country for such Calendar Quarter shall be reduced by [***] percent ([***]%) of the amount otherwise payable hereunder. 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 Patent or regulatory exclusivityRegulatory Exclusivity), then subsequent Royalties royalties shall be restored to the level otherwise contemplated under this Agreement.