Hikma Pharmaceuticals Plc Hikma expands nasal spray capabilities
09 Agosto 2019 - 10:00AM
RNS Non-Regulatory
TIDMHIK
Hikma Pharmaceuticals Plc
09 August 2019
London, 9 August 2019 - Hikma Pharmaceuticals PLC (Hikma, Group)
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated Ba1/stable
Moody's and BB+/positive S&P), the multinational pharmaceutical
company, today announces that it has signed an asset purchase
agreement with Insys Therapeutics Inc. (Insys) to acquire a
complementary manufacturing platform and two pipeline products.
In June 2019, Insys filed petitions seeking relief under Chapter
11 of the US Bankruptcy Code. As part of this process, Insys
initiated a court-supervised process to sell its assets. This
process has now concluded with respect to certain assets, and Hikma
has agreed to acquire unit-dose nasal and sublingual spray
manufacturing equipment, as well as two pipeline products, naloxone
505(b)2 nasal spray and epinephrine 505(b)2 nasal spray.
Brian Hoffmann, President of Generics, stated, "Hikma is the
largest supplier of generic nasal sprays in the US and we have been
looking for ways to build upon our strong manufacturing platform
and expand our product portfolio. This acquisition adds unit-dose
nasal spray manufacturing equipment, as well as two complex
products to our pipeline. This new technology expands our existing
nasal spray capabilities, creating a comprehensive platform, which
we can leverage for both internal and partnership programmes."
About naloxone
Naloxone is a medication used to block or reverse the effect of
opioids. Narcan(R) is the only nasal form of naloxone on the
market. According to IQVIA, US sales of Narcan(R) were
approximately $164 million in the 12 months ending June 2019.
About epinephrine
Epinephrine is a medication used to treat a number of
conditions, including anaphylaxis, cardiac arrest, and superficial
bleeding. According to IQVIA, US sales of epinephrine
auto-injectors were approximately $4.3 billion in the 12 months
ending June 2019. There are no currently approved nasal forms of
epinephrine in the US.
-- ENDS -
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal
EVP, Strategic Planning and Global +44 (0)20 7399 2760/ +44 7776
Affairs 477050
Lucinda Baker +44 (0)20 7399 2765/ +44 7818
Director, Investor Relations 060211
FTI Consulting
Ben Atwell/Andrew Ward +44 (0)20 3727 1000
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.
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END
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