LONDON and CAMBRIDGE, England, Jan. 9, 2020 /PRNewswire/ -- 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™, 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.
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™ 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
View original content to download
multimedia:http://www.prnewswire.com/news-releases/hikma-and-arecor-announce-exclusive-agreement-to-develop-and-commercialise-ready-to-use-medicine-using-arestat-technology-300984082.html
SOURCE Hikma Pharmaceuticals