Generic Competition definition

Generic Competition has the meaning set forth in Section 7.4.3.

Generic Competition means, with respect to a Product in any country in a given calendar quarter, that, during such calendar quarter, (i) one or more Generic Products are commercially available in such country, and (ii) aggregate Net Sales of such Product in such country in such calendar quarter equal less than [****] percent ([****]%) of the average aggregate Net Sales of the Product over the four (4) calendar quarters immediately prior to the calendar quarter in which one or more Generic Products first became commercially available in such country.

Generic Competition means, with respect to a Licensed Product in a given country in a given Calendar Year, that, during such Calendar Year one or more Generic Products shall be commercially available in such country.

Examples of Generic Competition in a sentence

• In the event of any royalty reduction during any Calendar Quarter due to Generic Competition in any country in the Territory, the report for such Calendar Quarter shall also provide the basis for the determination of such Generic Competition.

• In the event of any royalty reduction during any Calendar Quarter due to Generic Competition in any country in the Territory, the report for such Calendar Quarter shall also show the basis for the determination of such Generic Competition.

• The royalty payment due to Vitae (as set forth in Section 9.6.1) for sales of a particular Product in a particular country shall be reduced by fifty percent (50%) during any calendar quarter in which such Product faces Generic Competition.

• In any country where Generic Competition exists, as long as such Generic Competition exists in such country, the royalty otherwise due under Section 7.8 above with respect to Net Sales of the corresponding Licensed Product in such country shall be reduced by [*].

• Notwithstanding anything to the contrary in Section 5.4.1, in the event that in any country during a Calendar Quarter there is Generic Competition, the royalties payable to Lightlake for the Net Sales of such Product in such country shall be reduced to **** (****%) percent for such Calendar Quarter.

More Definitions of Generic Competition

Generic Competition means, with respect to a particular country in the Territory, when the Generic Products have, in the aggregate during a particular Calendar Quarter, achieved more than [***] of the market share in such country by unit volume of combined unit sales of the relevant Product and all Generic Products.

Generic Competition shall have the meaning assigned thereto in Section 9.6.5(a).

Generic Competition is defined in Section 5.5.2(a).

Generic Competition means [*****].

Generic Competition means, on a country-by-country basis, sales by one or more Third Parties with products containing the Compound in a country of the Territory exceeding * per cent (*%) of the total sales volume in a Royalty Period of all products containing the Compound (including the Product) in all dosage forms in such country, which is measured in units and reported by International Medical Statistics or a comparable source agreed by the Parties separately.

Generic Competition means, with respect to a Licensed Product in the United States, United Kingdom, Germany, France, Spain or Italy, when Net Sales of such Licensed Product in such country decrease by [**] percent ([**]%) or more from the Net Sales of such Licensed Product in such country measured as of each of the four (4) Calendar Quarters immediately preceding the Calendar Quarter during which the entry of a Generic Product occurs in such country.

Generic Competition means, with respect to a particular Regulated Product in a particular country, when (a) one or more Generic Product(s) are being marketed in such country; and (b) there are no Valid Claims covering such Regulated Product provided, however, that for defining a Generic Product in the United States the criteria will be either having no Valid Claim covering the United States or having Paragraph IV certification or regulatory exclusivity in respect of such Product, in such country.