Adamas grants Sandoz license for its generic version of GOCOVRI® as of March 4, 2030 – over 12 years post GOCOVRI launch
EMERYVILLE, Calif., Jan. 02, 2020 (GLOBE NEWSWIRE) -- Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS), a company dedicated to developing and delivering medicines that make a clinically meaningful difference to people affected by neurological diseases, today announced that it has entered into a Settlement Agreement with Sandoz Inc. (“Sandoz”) resolving its ongoing litigation concerning Sandoz’s Abbreviated New Drug Application (“ANDA”) seeking approval by the U.S. Food and Drug Administration to market a generic version of GOCOVRI® (amantadine) Extended Release Capsules.
“I am pleased to announce this settlement agreement with Sandoz, which demonstrates the strength of Adamas’ intellectual property and provides both parties with certainty,” said Neil F. McFarlane, Chief Executive Officer of Adamas Pharmaceuticals, Inc. “With the launch of GOCOVRI still in its early stages, this agreement facilitates our ability to maximize the number of patients who may benefit from GOCOVRI.”
Under the settlement agreement, Adamas grants Sandoz a non-exclusive license to make, use, sell, offer to sell and import the products that are the subject of Sandoz’s ANDA as of March 4, 2030, or earlier in certain circumstances, including a potential for an accelerated license date if the unit sales of GOCOVRI in the 12-month period ending July 31, 2025 or any subsequent 12-month period decline by a specified percentage below the unit sales of GOCOVRI in the year ended December 31, 2019. The agreed-upon entry date for Sandoz’s generic version of GOCOVRI of March 4, 2030 is less than nine months prior to the December 2, 2030 expiration of the last-to-expire patent, on which Sandoz submitted a certification qualifying it for 180-day first filer exclusivity.
In accordance with the Settlement Agreement, the parties will submit a joint stipulation and order to the United States District Court for the District of New Jersey, and the Settlement Agreement to the U.S. Federal Trade Commission and the U.S. Department of Justice. Upon entry of the joint stipulation and order, this Settlement Agreement will conclude all patent litigation brought to date by Adamas against generic pharmaceutical companies that filed an ANDA seeking approval to market generic versions of GOCOVRI prior to the expiration of the patents listed in the Orange Book.
About GOCOVRI®
GOCOVRI® (amantadine) extended-release capsules is the first and only FDA-approved medicine indicated for the treatment of dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications. It is also the only medicine clinically proven to reduce both dyskinesia and OFF.
Taken once-daily at bedtime, GOCOVRI provides an initial lag and a slow rise in amantadine concentration during the night, resulting in a high concentration from the morning and throughout the waking day. Additionally, in the clinical trials, the adjunctive use of GOCOVRI did not require dose changes to dopaminergic therapies. The most commonly observed adverse reactions with GOCOVRI were hallucinations, dizziness, dry mouth, peripheral edema, constipation, falls and orthostatic hypotension.
For more information about GOCOVRI, please visit www.GOCOVRI.com.
About Adamas Pharmaceuticals, Inc.
At Adamas, our purpose is clear: deliver innovative medicines that make a clinically meaningful difference for patients, caregivers and society. We are a fully-integrated company with a growing portfolio of therapies that address a range of neurological diseases. For more information, please visit www.adamaspharma.com.
Forward-looking statements
Statements contained in this press release regarding matters that may occur in the future are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied by such forward-looking statements. For a description of risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements, including risks relating to Adamas’ research, clinical, development and commercial activities relating to GOCOVRI and ADS-5102, and the regulatory and competitive environment and Adamas’ business in general, see Adamas’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2019, particularly under the caption “Risk Factors.” Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Adamas undertakes no obligation to update any forward-looking statement in this press release, except as required by law.
Contact:
Investors:
Peter Vozzo
Westwicke
443-213-0505
peter.vozzo@westwicke.com
Media:
Sarah Mathieson
Vice President of Corporate Communications
510-450-3528
smathieson@adamaspharma.com
