April 8 (Reuters) - Jazz Pharmaceuticals ( JAZZ ) said

on Tuesday that it had agreed to a settlement of $145 million to

resolve a series of antitrust lawsuits related to its narcolepsy

drug, Xyrem.

Xyrem, a medication approved in the U.S., is used for the

treatment of excessive daytime sleepiness and sudden loss of

muscle control in patients suffering from narcolepsy, a chronic

neurological disorder.

The lawsuits accused Jazz Pharma of orchestrating a scheme

to delay the release of a generic version of Xyrem, made by

Hikma Pharmaceuticals ( HKMPF ), leading to inflated prices for

health plans.

The plaintiffs, which include the city of Providence, Rhode

Island, and the New York State Teamsters Council Health and

Hospital Fund, lodged cases accusing Jazz of violating U.S.

antitrust laws.

Jazz is accused of making a monetary payment that kept a

rival generic off the market for years, and of distributing

Xyrem exclusively through a single specialty pharmacy.

Despite agreeing to the settlement, Jazz denied any

allegations of misconduct.

The Ireland-based company said it plans to use its existing

cash reserves to finance the settlement and expects to record a

pre-tax charge of $145 million in the first quarter of 2025 in

relation to the settlement.

The company reported sales of $233.8 million from Xyrem in

the year 2024.

Hikma did not immediately respond to Reuters' request for

comment.