Hikma in-licenses proprietary injectable product
August 17 2011 - 2:01AM
RNS Non-Regulatory
TIDMHIK
Hikma Pharmaceuticals Plc
17 August 2011
PRESS RELEASE
Hikma in-licenses major proprietary injectable product
Ferinject(R) for the MENA region London, 17 July, 2011: Hikma
Pharmaceuticals (LSE: HIK) (NASDAQ Dubai: HIK) ("Hikma"), the fast
growing pharmaceutical company, today announces that its
wholly-owned subsidiary Hikma Pharmaceuticals Ltd. has entered into
a licensing and distribution agreement with Vifor Pharma, a
wholly-owned subsidiary of the Galenica Group, under which Hikma
will market Ferinject(R), Vifor Pharma's innovative treatment for
iron deficiency, in the Middle East and North African region
("MENA"). The agreement will leverage Hikma's local presence,
regional marketing and regulatory expertise, allowing Hikma to
maximise the potential of one of the world's fastest-growing
markets for iron deficiency products. The agreement covers Algeria,
Egypt, Iraq, Jordan, Lebanon, Libya, Morocco, South Sudan, Sudan,
Syria, Tunisia and Yemen. Patients in these countries will gain
access to Ferinject(R), an efficacious, well tolerated and
convenient treatment for iron deficiency. Hikma, with over 1,600
sales and marketing staff in the region, will receive exclusive
rights to market and distribute a product that complements its
portfolio of prescription pharmaceuticals. Vifor Pharma, one of the
world's leaders in the treatment of iron deficiency, will see
Ferinject(R) registered and brought to market far more quickly than
would otherwise be possible.
"This collaboration is great news for Vifor Pharma. It is also
very good news for all patients suffering from iron deficiency in
the MENA region. These patients will soon have access to a new and
much-needed therapeutic option," said Dr. David Ebsworth, CEO of
Vifor Pharma. "I am delighted that Hikma - a company with great
expertise and standing - shares our view of the potential of
Ferinject(R) and has decided to contribute to the further success
of the product."
Said Darwazah, CEO of Hikma Pharmaceuticals, said: "Ferinject(R)
has been demonstrated to have a powerful impact in the treatment of
iron deficiency. This agreement enables us to bring another world
class product to patients in the MENA region and we look forward to
a long and successful collaboration with Vifor Pharma." The MENA
pharmaceutical market is forecast to grow at an annualized rate of
around 11% over the next five years, offering excellent growth
potential for high quality innovative pharmaceuticals such as
Ferinject(R). The countries covered by the agreement have a
combined population of approximately 295 million inhabitants.
Already registered in over 35 countries, Ferinject(R) offers
patients, doctors and payers significant therapeutic and
pharmaco-economic benefits over existing treatment options. Within
the MENA region, the product has already received marketing
authorisation for Lebanon. Preparations for regulatory submissions
in the other countries are already underway, and both companies are
optimistic that Ferinject(R) will be registered and made available
to patients within a reasonably rapid time-frame.
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399
2760/07776 477 050
Financial Dynamics +44 (0)20 7831 3113
Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole
About Ferinject(R)
Ferinject(R) is an innovative intravenous iron replacement
product discovered and developed by Vifor Pharma. Ferric
carboxymaltose, the active pharmaceutical ingredient of
Ferinject(R), meets the unmet clinical need for an intravenous
(i.v.) iron therapy that is not associated with dextran-induced
hypersensitivity reactions with a low iron toxicity potential.
Ferinject(R) can be administered in doses up to 1000mg iron in a
15-minute drip infusion or i.v. injection in patients with iron
deficiency associated with a variety of clinical conditions.
To date, Ferinject(R) has gained marketing authorisation in 30
countries in Europe as well as in South Korea, Argentina, Russia,
Australia and Lebanon, for the treatment of iron deficiency where
oral iron is ineffective or cannot be used. In many countries,
intravenous iron replacement products are primarily used to treat
dialysis patients. However, iron deficiency is also a complication
of many other illnesses. Vifor Pharma is evaluating new
opportunities in the treatment of iron deficiency with Ferinject(R)
in different therapeutic areas. Further trials with Ferinject(R) in
chronic kidney disease (CKD), oncology (anaemia in cancer
patients), cardiology (chronic heart failure), patient blood
management and gynaecology are ongoing.
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational
pharmaceutical 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 2010,
Hikma achieved revenues of $731 million and profit attributable to
shareholders of $99 million.
About Vifor Pharma
Vifor Pharma, the pharma business sector of the Galenica Group,
is a world leader in the discovery, development, manufacturing and
marketing of pharmaceutical products for the treatment of iron
deficiency. The company also offers a diversified portfolio of
prescription medicines as well as over-the-counter (OTC) products.
Vifor Pharma, headquartered in Zurich, Switzerland, has an
increasingly global presence and a broad network of affiliates and
partners around the world.
For more information about Vifor Pharma and its parent company
Galenica, please visit www.viforpharma.com and
www.galenica.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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