Hikma Pharmaceuticals Plc Hikma announces agreement with Arecor
January 09 2020 - 3:00AM
RNS Non-Regulatory
TIDMHIK
Hikma Pharmaceuticals Plc
09 January 2020
London and Cambridge, January 9, 2020 - Hikma Pharmaceuticals
PLC (Hikma, Group / LSE: HIK / NASDAQ Dubai: HIK / OTC: HKMPY)
(rated Ba1/stable Moody's and BB+/positive S&P), the
multinational generic pharmaceutical company, and Arecor Ltd, the
biopharmaceutical company advancing today's therapies to enable
healthier lives, today announce they have entered into an exclusive
agreement to co-develop a new, ready-to-use injectable medicine in
the US through Hikma's affiliate, Hikma Pharmaceuticals USA
Inc.
The product, which will be announced prior to launch, is being
developed using Arecor's proprietary drug formulation technology
platform Arestat(TM), which enhances the properties of approved
therapeutic proteins and peptides to deliver new reformulations of
existing, complex products. Hikma will seek approval for the
product under the U.S. Food and Drug Administration's 505(b)(2)
regulatory pathway, with filing expected in 2021.
"We are pleased to enter into this partnership with Arecor. This
is another important step forward for Hikma in developing and
commercialising complex medicines and delivery systems that benefit
patients and position our business for continued long-term growth,"
said Riad Mishlawi, President, Hikma Injectables. "We are confident
that Arecor's state-of-the-art development platform, combined with
Hikma's strong manufacturing capabilities and excellent commercial
team, with its broad relationships across US hospital systems, will
bring an important new treatment option to patients and healthcare
providers."
"We are proud to be working with Hikma," said Sarah Howell,
Chief Executive Officer of Arecor. "Arecor has an excellent track
record in developing ready-to-use (RTU) and ready-to-administer
(RTA) medicines, which are becoming increasingly important to
enable fast, safe and effective treatment of patients. Hikma has a
strong and respected US hospital market presence and is focused on
providing cost effective therapies which improve patient care and
advance the delivery of medication. We look forward to the joint
development of this first product as part of a broad collaboration
with Hikma."
Under the terms of the royalty-based agreement, Arecor will
receive an upfront payment and further payments on the achievement
of development, regulatory and commercial milestones. Hikma will be
responsible for the manufacture and commercialisation of the
product. Arecor retains the right to develop and commercialise the
product in certain markets outside the US.
- ENDS -
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal +44 (0)20 7399 2760/ +44 7776
EVP, Strategic Planning and 477050
Global Affairs uk-investors@hikma.com
Steven Weiss +1 732 720 2830/ +1 732 788 8279
Senior Director, Communications sweiss@hikma.com
and Public Affairs
Arecor Limited
www.arecor.com
Dr Sarah Howell +44 (0)1223 426060
Chief Executive Officer sarah.howell@arecor.com
Susan Lowther +44 (0)1223 426060
Chief Financial Officer susan.lowther@arecor.com
Mo PR Advisory www.mopradvisory.com
Mo Noonan +44 (0)7876 444977
mo@mopradvisory.com
About Hikma
Hikma helps put better health within reach every day for
millions of people in more than 50 countries around the world. For
more than 40 years, we've been creating high-quality medicines and
making them accessible to the people who need them. Headquartered
in the UK, we are a global company with a local presence across the
United States (US), the Middle East and North Africa (MENA) and
Europe, and we use our unique insight and expertise to transform
cutting-edge science into innovative solutions that transform
people's lives. We're committed to our customers, and the people
they care for, and by thinking creatively and acting practically,
we provide them with a broad range of branded and non-branded
generic medicines. Together, our 8,400 colleagues are helping to
shape a healthier world that enriches all our communities. We are a
leading licensing partner, and through our venture capital arm, are
helping bring innovative health technologies to people around the
world. For more information, please visit: www.hikma.com
About Arecor (www.arecor.com)
Arecor Limited is a biopharmaceutical company transforming
patient care by bringing innovative medicines to market. Through
the enhancement of existing medicines using our Arestat(TM)
technology, we are developing a broad portfolio of therapies as
part of our proprietary pipeline and through partnerships with
leading pharmaceutical and biotech companies. Our treatments for
people living with chronic disease are designed to simplify patient
care and improve medication adherence.
For further details please see our website, www.arecor.com
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END
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