Hikma Pharmaceuticals Plc Re Agreement (4481T)
November 20 2013 - 2:00AM
UK Regulatory
TIDMHIK
RNS Number : 4481T
Hikma Pharmaceuticals Plc
20 November 2013
PRESS RELEASE
Hikma signs long term supply agreement with Unilife to enhance
delivery of generic injectables
London, 20 November 2013 - Hikma Pharmaceuticals PLC (LSE: HIK)
(NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational
pharmaceutical group, today announces that it has signed a long
term commercial supply contract with Unilife Corporation
("Unilife") for the use of Unifill(R) prefilled syringes with a
range of generic injectable drugs.
Under the 15-year global agreement, Unilife will supply Hikma
with customised prefillable delivery systems from its Unifill(R)
platform, including the Unifill syringe and the Unifill Nexus(TM)
("Unifill products"). For the exclusive global rights to use
Unilife's Unifill products with a selection of Hikma's generic
injectable products, Hikma will pay a total of $40 million,
comprising an upfront payment of $5 million, an additional $15
million payment expected during 2014 and a further $20 million in
milestone-based payments to be paid thereafter. Hikma has selected
an initial list of around 20 of its generic injectable products to
be used with Unifill products. Unilife will commence product sales
to Hikma in early 2014.
Market demand for generic injectables is rapidly shifting from
vials to prefilled syringes. However, conventional prefilled
devices prevent universal attachment with any ISO standard needle
hub or IV connector and are also associated with patient safety
risks including spontaneous disconnection and the leakage or
occlusion of medication. The superior design of Unilife's Unifill
Nexus(TM) addresses these issues and Hikma believes this
differentiated offering will become the preferred choice for
delivering injectable drugs safely and effectively.
Said Darwazah, Chief Executive Officer of Hikma stated:
"This agreement supports our strategy of developing higher value
products and we are extremely pleased to be partnering with Unilife
to develop our generic injectables capabilities. We look forward to
leveraging Unilife's innovative platform of Unifill syringes to
differentiate our injectable products, strengthen our competitive
position and increase our market share."
Mr Alan Shortall, Chief Executive Officer of Unilife said:
"Unilife has developed a full range of innovative and highly
differentiated syringes under our Unifill platform to accommodate
the needs of all prefilled biologics, drugs and vaccines. This
strategic partnership with Hikma enables us to rapidly penetrate
the large and fast growing market for generic injectables and
supports our goal to become one of the largest suppliers of
prefilled syringes in the world."
-- ENDS --
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, VP Corporate Strategy and Investor Relations +44
(0)20 7399 2760/ +44 7776 477050
Lucinda Henderson, Investor Relations Manager +44 (0)20 7399
2765/ +44 7818 060211
FTI Consulting
Ben Atwell/ Julia Phillips/ Matthew Cole +44 (0)20 7831 3113
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 operates through three businesses: "Branded", "Injectables"
and "Generics", based principally in the Middle East and North
Africa ("MENA"), where it is a market leader, the United States and
Europe. In 2012, Hikma achieved revenues of $1,108.7 million and
profit attributable to shareholders of $100.3 million.
About Unilife Corporation
Unilife Corporation (NASDAQ:UNIS / ASX: UNS) is a U.S. based
developer and commercial supplier of injectable drug delivery
systems. Unilife's broad portfolio includes prefilled syringes with
automatic needle retraction, drug reconstitution delivery systems,
auto-injectors, wearable injectors, intraocular delivery systems
and novel devices. Each of these innovative, differentiated
technology platforms can be customised to address specific
customer, drug and patient requirements. Unilife's global
headquarters and state-of-the-art manufacturing facilities are
located in York, PA. For more information, please visit
www.unilife.com or download the Unilife IRapp on your iPhone, iPad
or Android device.
About the Unifill(R) Platform
Unilife has developed an extensive proprietary platform of
prefilled syringes under its Unifill(R) brand. Unifill is the
world's first and only known platform of prefilled syringes with
automatic and fully integrated needle retraction. Designed for
intuitive use by healthcare workers or self-injecting patients, an
audible, tactile click signals the injection of the full dose and
the automatic activation of the needle retraction mechanism. Users
can control the speed of needle retraction directly from the body
into the syringe barrel by relieving thumb or finger pressure on
the plunger to eliminate the risk of needlestick injuries or the
aerosolisation (splatter) of blood or tissue residue. Unifill
syringes are compatible with standard filling and packaging
processes, with USP compliant materials in the primary drug
container.
About Unifill Nexus(TM)
The Unifill Nexus is a glass prefilled syringe that can be
universally attached to ISO standard needleless luer access devices
(NLADs). The Unifill Nexus is designed to address patient safety
concerns relating to the reported malfunction, breaking or clogging
of some conventional glass prefilled syringes when attached to
NLADs. Unlike some other needleless prefilled syringes, it features
an ISO standard luer lock tip that is designed for universal
attachment onto standard needle hubs and IV connectors and prevents
the risk of spontaneous disconnection or leakage of medication.
Like other syringes within the Unifill platform, the Unifill Nexus
is compatible with standard filling and packaging processes and has
USP compliant materials in the primary drug container.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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