Biosimilar Product. The term “
Biosimilar Product. If a Licensed Product is generating Net Sales in a region during the applicable Royalty Term at a time when a Biosimilar Product with respect to such Licensed Product is being sold in such region, then the royalty rate applicable to Net Sales of such Licensed Product in such region in such Calendar Quarter shall be reduced by the following percentage of the royalty rate that would otherwise be owed on such Net Sales of such Licensed Product in such region under Section 9.3(a), for so long as the Biosimilar Product is being sold in such region during the Royalty Term: [***].
Biosimilar Product. [[***]].
Biosimilar Product. (a) If a Product that is a Biosimilar Product to a given Licensed Product enters the market in a given country prior to the end of the Royalty Term and Net Sales of such Licensed Product in such country subsequently decrease for two consecutive Calendar Quarters by more than twenty-five percent (25%) of the level of the Net Sales of such Licensed Product in such country achieved in the Calendar Year immediately prior to such entry divided by four, then the royalty rate owed to Eleven for such Licensed Product shall be reduced by fifty percent (50%) in such country.
(b) If subsequent to such a Biosimilar Product entry, the Net Sales of such Licensed Product in such country decrease by more than fifty percent (50%) of the level of the Net Sales of such Licensed Product in such country achieved in the Calendar Year immediately prior to such entry divided by four, then the royalty rate owed to Eleven in such country for such Licensed Product shall be reduced by seventy-five percent (75%) in such country.
Biosimilar Product. Upon the first entry in a given country of a Biosimilar Product, the royalties in such country for such Product shall be reduced as follows:
a) If in any Calendar Quarter after entry of a Biosimilar Product there has been a decline of the Net Sales of the applicable Product in such country greater than [***] of the level of the Net Sales of such Product achieved in the two consecutive Calendar Quarters immediately prior to such entry, then the royalty payments due to Pieris for such Product in such country shall be reduced by [***] for the remainder of the Royalty Term as from such Calendar Quarter.
Biosimilar Product. If (A) a Licensed Product is generating Net Sales in the Field in a country in the Territory during the applicable Royalty Term at a time when a Biosimilar Product with respect to such Licensed Product is being sold in such country; (B) there is a reduction in the sales volume of any Licensed Product in such country […***…], then, subject to Section 9.5(c)(iv) and […***…], the royalty rate applicable to Net Sales of such Licensed Product in such country in such Calendar Quarter shall be reduced by a percentage of the royalty rate that would otherwise be owed on such Net Sales of such Licensed Product in such country under Section 9.5(a) in accordance with the following table;91 Percentage Market Reduction92 Percentage Royalty Rate Reduction93 […***…]% […***…]% […***…]% […***…]% […***…]% […***…]%
Biosimilar Product. Upon the first entry after the License Effective Date in a given country of a Biosimilar Product by any entity that is not authorized by Almirall or its Affiliates or by a Sublicensee of Almirall or its Affiliates, the royalties in such country for the Product shall be reduced as follows:
i. If the average Net Sales in any four subsequent Calendar Quarters at any time after entry of a Biosimilar Product decline by more than [*****] percent ([*****]%) of the average level of the Net Sales of such Product achieved in the four Calendar Quarters immediately prior to such entry, then the royalty payments due to Dermira for such Product in such country shall be reduced by [*****] percent ([*****]%);
ii. If the average Net Sales in any four subsequent Calendar Quarters at any time after entry of a Biosimilar Product decline by more than [*****] percent ([*****]%) of the average level of the Net Sales of the Product achieved in the four Calendar Quarters immediately prior to such entry, then the royalty payments due to Dermira for such Product in such country shall be reduced by [*****] percent ([*****]%).
Biosimilar Product. Subject to Section 9.6.3 (Cumulative Effect of Ionis Royalty Reductions), if, on an Ionis Product-by-Ionis Product and country-by-country basis, a Biosimilar Product with respect to an Ionis Product is approved for sale in a country, then commencing in the Calendar Quarter in which such approval was obtained and continuing for the remainder of the Royalty Term for such Ionis Product in such country, the Annual Net Sales for such Ionis Product in such country will be reduced by [***]% for purposes of calculating the Ionis Royalties owed under Section 9.6.1 (Ionis Royalty Rates). (c)
Biosimilar Product. On a Licensed Product-by-Licensed Product basis, if during a Calendar Quarter one or more Third Parties is or are selling a Biosimilar Product in a country and Net Sales of the Licensed Product in such country during such Calendar Quarter are less than [***]of the average quarterly Net Sales of the Licensed Product in such country over the [***] Calendar Quarters immediately prior to the Calendar Quarter during which the first such Biosimilar Product was sold in such country (the “Biosimilar Reduction Trigger”), then the royalty rates set forth in the applicable table in Section 7.4.1 for such Licensed Product shall be reduced in such country [***], commencing with such Calendar Quarter in which the Biosimilar Reduction Trigger occurred and thereafter for the remainder of the Royalty Term in such country.
Biosimilar Product. If a Product is sold in a country during the applicable Royalty Term at a time when a Biosimilar Product is also being sold in such country, then, from and after the date on which both the Product and the Biosimilar Product have each been available for sale for [***] in such country, the royalties payable on Net Sales of such Product in such country in any Xxxxxxx Calendar Quarter during the applicable Royalty Term shall be reduced to an amount equal to [***] of the royalties that would otherwise be payable on Net Sales of such Product in such country in such Xxxxxxx Calendar Quarter under Section 6.7, subject to the application of the royalty floor under Section 6.11.
