Hikma signs licensing agreement
July 17 2009 - 2:00AM
RNS Non-Regulatory
TIDMHIK
Hikma Pharmaceuticals Plc
17 July 2009
HIKMA PHARMACEUTICALS PLC
Hikma signs licensing agreement with Faes
Farma SA for anti-histamine Bilastine
London, 16 July 2009: Hikma Pharmaceuticals PLC ("Hikma")
(LSE:HIK) (NASDAQ Dubai: HIK), a leading speciality pharmaceutical company,
today announces that its subsidiary Hikma Pharmaceuticals LLC has signed a
licensing agreement for the anti-histamine Bilastine with FAES FARMA, S. A., a
Spanish pharmaceutical company, for the Middle East & North Africa ("MENA")
region.
Through this agreement FAES FARMA grants exclusive rights for the manufacture
and distribution of Bilastine to Hikma for 17 MENA countries, while reserving
its co-marketing rights in some of them.
Bilastine is a highly selective oral anti-histamine with an excellent safety
profile aimed to treat allergic rhinitis and chronic urticaria. The
anti-histamine market in the MENA region is approximately $115 million and has
been growing at a rate of approximately 13% (Source: IMS Health).
Hikma will leverage its position as the largest regional pharmaceutical
manufacturer and marketer in the MENA region with its extensive sales force of
more than 1,100 sales representatives to drive sales of this important product.
Hikma expects to achieve annual Bilastine sales of over $10 million after
launching the product throughout its whole MENA territory.
It is expected that this agreement will be followed by others between HIKMA and
FAES for additional licensed products.
Said Darwazah, Hikma's Chief Executive Officer commented: "This agreement
reinforces our position as the partner of choice for marketing branded products
in the MENA region. In-licensing is a key part of our growth strategy in the
region and accounts for more than 30% of sales in our Branded business. We are
pleased to have secured the license for this important anti-histamine and look
forward to making Bilastine available to our customers across the MENA region."
=- ENDS -
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director Tel: +44 (0)20 7399 2760
Brunswick Group
Jon Coles / Justine McIlroyTel: +44 (0)20 7404 5959
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational group focused on
developing, manufacturing and marketing a broad range of both branded and
non-branded generic and in-licensed products. Hikma's operations are conducted
through three businesses: "Branded", "Injectables" and "Generics" based
principally in the Middle East and North Africa ("MENA") region, where it is a
market leader, the United States and Europe. In 2008, Hikma achieved revenues of
$581 million and profit attributable to shareholders of $57 million. For news
and other information, please visit www.hikma.com.
About the MENA region
The MENA region has a population of 270 million people and comprises the
following countries: Morocco, Algeria, Tunis, Libya, Egypt, Sudan, Jordan,
Lebanon, Syria, Iraq, Kuwait, Bahrain, Qatar, United Arab Emirates, Saudi
Arabia, Yemen and Oman.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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