Scilex announces final court approval of settlement agreement with Takeda

Scilex Holding (SCLX) announced that the 45-day review period for the U.S. Federal Trade Commission and U.S. Department of Justice to comment on or object to the Settlement Agreement entered into by the Company and its wholly owned subsidiary, Scilex Pharmaceuticals with Takeda Pharmaceuticals U.S.A (TAK) and Takeda Pharmaceuticalsto resolve the Paragraph IV patent infringement lawsuit that Takeda filed against the Scilex Parties in the federal district court in Delaware in November 2023 has expired and the U.S. District Court for the District of Delaware entered a Consent Judgment on May 3, 2024, approving the Settlement Agreement. The Action arose from Scilex’s filing of a revised label with the FDA seeking to expand the label for its FDA-approved liquid colchicine product, Gloperba, a preventive treatment for gout. As part of the Settlement Agreement, the Scilex Parties entered into a License Agreement with Takeda granting the Company and its affiliates a non-exclusive license to certain patents owned by Takeda. The terms of those agreements are confidential.