Common use of Pricing and Reimbursement Approvals Clause in Contracts

Pricing and Reimbursement Approvals. (a) Schering shall be responsible for obtaining and maintaining any pricing and reimbursement approvals required for the sale by Schering of the Product in each country in the Territory. In the EU, ICN shall be responsible for ICN's pricing and reimbursement approvals and structure. Schering shall use its reasonable efforts to diligently obtain pricing and reimbursement approvals for the Product in each country within the Territory throughout the Exclusive Period, except as provided in the last sentence of Section 4.1. Schering shall undertake reasonable efforts, including additional studies of the type contemplated under Section 3.1(c), to diligently maximize the opportunities to obtain commercially reasonable pricing for the Product in each country in the Territory by the time of initial launch of the Product in such country. Such efforts shall be commensurate with those efforts used for its other products of similar potential, value and status in such country or, if Schering has no comparable product in such country, a comparable country in the Territory.