Hikma Pharmaceuticals Plc Hikma signs agreement with EffRx
February 04 2013 - 5:29AM
RNS Non-Regulatory
TIDMHIK
Hikma Pharmaceuticals Plc
04 February 2013
Hikma signs a licensing and distribution agreement with EffRx
for its innovative osteoporosis medication
London, 4 February 2013 - Hikma Pharmaceuticals PLC ("Hikma")
(LSE: HIK) (NASDAQ Dubai: HIK) today announces the signing of a
licensing and distribution agreement with EffRx Pharmaceuticals SA
for Binosto(R), its innovative osteoporosis medication, for the
Middle East and North Africa ("MENA") region. Binosto(R) is the
first and only buffered solution for the treatment of osteoporosis,
delivering fracture-risk reduction and offering the potential to
improve adherence to therapy.
Under the terms of the agreement, Hikma will have the exclusive
rights to register, market and distribute Binosto(R) in 19
countries across MENA. The agreement will leverage Hikma's strong
local presence and regulatory expertise in MENA, with over 1,600
sales and marketing reps across the region.
Binosto(R) was developed by EffRx through an agreement with
Merck & Co, Inc. granting EffRx the worldwide rights to all
effervescent and related patents of Fosamax(R) (alendronate).
Patents have been granted to EffRx providing exclusivity for
Binosto(R) through February 2023. Additional patents are pending.
Binosto (buffered alendronate sodium 70mg) is an effervescent
tablet for oral solution and has recently been approved in the
United States, Europe and Australia[1] for the treatment of
osteoporosis in postmenopausal women. In the United States it is
also approved for the treatment of men with osteoporosis to
increase bone mass.
Osteoporosis is a serious and often debilitating disease
affecting more than 200 million people worldwide. It is expected to
become a growing problem in the MENA region as the population ages.
Efficacious and convenient treatments for patients at high risk of
bone fractures are necessary to avoid disability and deaths and to
minimise healthcare costs. This agreement will enable patients in
the MENA to benefit from an innovative, safe and easy-to-use
medication.
Mazen Darwazah, Hikma's Vice Chairman and CEO of MENA said, "We
are pleased to be licensing this excellent product from EffRx. The
agreement supports our strategy to continue working with global
partners to strengthen our product portfolio in growing therapeutic
categories, including women's health. Hikma is committed to
bringing a broad range of high quality, pharmaceutical products to
patients in MENA."
Christian Rosén, Chairman and CEO of EffRx Pharmaceuticals said,
"We are thrilled to announce this partnership with Hikma, a company
who we believe to be an ideal partner for EffRx in MENA. We believe
Hikma's well-established sales force across the region can drive
Binosto(R) to a market leadership position and we are extremely
proud to have Hikma as a partner."
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399 2760/ 07776 477050
Lucinda Henderson, Investor Relations Manager +44 (0)20 7399 2765/ 07974 375550
FTI Consulting +44 (0)20 7831 3113
Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole
About Binosto(R)
Binosto(R) (buffered alendronate sodium 70mg) is an effervescent
tablet for oral solution. Binosto(R) represents a true breakthrough
in the treatment of osteoporosis - especially for those patients
who prefer not to or have difficulties swallowing tablets. Taken
just once a week, with a reduced volume of water compared with the
requirements of the leading osteoporosis medication and no risk of
a tablet getting lodged in the esophagus, Binosto(R) has the
potential to improve long-term patient compliance and adherence to
therapy, thereby decreasing the risk of disabling fractures.
About EffRx
EffRx Pharmaceuticals SA is an innovative specialty
pharmaceutical company that exploits its proprietary technology
platform to improve the efficacy, tolerability and convenience of
approved high volume medicines, thereby generating better products
and improved quality of life for patients. The primary focus is on
metabolic bone disease, oncology supportive care, pediatric
medications and support to larger companies in Life Cycle
Management.
About Hikma
Hikma Pharmaceuticals 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 2011, Hikma achieved
revenues of US$918.0 million and profit attributable to
shareholders of US$80.1 million.
[1] Binosto(R) is known under the name of Steovess(R) in the
European Union and Australia
This information is provided by RNS
The company news service from the London Stock Exchange
END
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