Application of Royalty Provisions to ORKAMBI Net Sales Sample Clauses

This clause defines how royalty provisions are applied specifically to the net sales of ORKAMBI, a pharmaceutical product. It outlines the calculation method for royalties owed based on the net sales figures of ORKAMBI, detailing which sales are included and how deductions or adjustments are handled. The core function of this clause is to ensure that both parties have a clear and agreed-upon method for determining royalty payments related to ORKAMBI, thereby preventing disputes and ensuring accurate compensation.
Application of Royalty Provisions to ORKAMBI Net Sales. For purposes of clarity, (1) ORKAMBI is a Combination Product consisting of two Original Drug Products, VX-770 Drug Product and VX-809 Drug Product, and (2) accordingly, royalties on Net Sales of ORKAMBI shall be payable as follows: under the Combination Product principles set forth in Section 1.25.4, 1/n, where n=2, or fifty percent (50%) of Net Sales of ORKAMBI shall be allocated to each of the VX-770 Drug Product and the VX-809 Drug Product. An illustrative example of the calculation of royalties on Net Sales of ORKAMBI and KALYDECO (i.e., VX-770 Drug Product sold not as a Combination Product) is attached hereto as Exhibit 2016-B.
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