Hikma announces agreement with Chiesi Group
London, 13 January 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 pharmaceutical company, today announced an exclusive licensing and distribution agreement with Chiesi Farmaceutici, a research-focused international pharmaceutical Group (Chiesi Group), headquartered in Italy.
The agreement provides Hikma with exclusive rights to commercialise 11 of Chiesi's leading products in Egypt, including currently marketed and pipeline products. This builds on Hikma's existing partnership with Chiesi in Morocco and adds a range of innovative products to its Egyptian portfolio, including Foster®, Foster Nexthaler®, Trimbow® and Curosurf®.
Mazen Darwazah, Hikma's Executive Vice Chairman and President of MENA said, "We are very pleased to be partnering with Chiesi to commercialise a range of specialty products, primarily in respiratory and neonatal therapeutic areas, in Egypt. This supports our strategy of working with global partners to strengthen our portfolio in growing therapeutic categories. In particular, this agreement enables us to meet the needs of a growing number of patients suffering from asthma and COPD in Egypt and improve their access to high-quality medicines."
Ugo Di Francesco, CEO of Chiesi Group commented: "We are really proud to have strengthened our strategic partnership with Hikma. This will allow us to increase the availability of our main therapeutic solutions in the respiratory and neonatology fields to Egyptian patients. The agreement highlights our continued progress against Chiesi Group's main mission: addressing population health needs around the world."
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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're 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 Chiesi Group
Based in Parma, Italy, Chiesi Farmaceutici is an international research-oriented group with over 80 years of experience in the pharmaceutical sector, operating in 28 countries. The Group conducts research, develops and markets innovative drugs for respiratory treatment, Special Care medicine and rare diseases. The Group's Research and Development Centre is based in Parma and integrates its work with that of 6 other important R&D groups in France, the USA, the UK and Sweden to promote its own pre-clinical, clinical and registration programmes. The Chiesi Group is a certified B Corp and employs around 5,700 people. For further information please visit www.chiesi.com
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