Hikma enters licensing partnership with Perrigo
London, 9 July 2018 - Hikma Pharmaceuticals PLC (Hikma, Group) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated Ba1 Moody's / BB+ S&P, both stable) announces that it has signed a licensing and distribution agreement with Omega Pharma Trading NV, an affiliate of Perrigo Company plc (Perrigo), one of the largest providers of over-the-counter healthcare solutions in Europe.
Under the terms of the agreement, Hikma has the exclusive right to license and distribute more than 30 consumer healthcare products, including Davitamon, Prevalin, XLS Medical, Dermalex and Paranix, in all its MENA markets, with the exception of current agreements in place. Hikma aims to work with Perrigo's existing partners in the MENA region to broaden sales and marketing coverage.
In addition, Hikma has the right of first refusal to the full range of Perrigo's OTC medicines in the region.
The partnership provides a significant opportunity for Hikma to collaborate with Perrigo in MENA, building on the strengths of each company. The agreement will leverage Hikma's substantial local presence with operations in 17 markets and an established sales and marketing team, experienced in building brands, with particular expertise in the consumer health business.
Mazen Darwazah, Executive Vice Chairman, Chief Executive of MENA and Emerging Markets said, "We are very pleased to be entering a partnership with Perrigo. This agreement will expand our consumer healthcare portfolio, enabling us to meet growing demand across the region."
Svend Andersen, Perrigo Executive Vice President and President, Consumer Healthcare International, stated, "These OTC medicines are important in meeting the healthcare needs of patients and consumers. We are pleased to partner with Hikma to leverage their strong presence in MENA markets, further increasing access to these valuable consumer products.
-- ENDS --
Enquiries
Hikma Pharmaceuticals PLC
|
Susan Ringdal |
+44 (0)20 7399 2760/ +44 7776 477050 |
|
Virginia Spring Investor Relations Manager |
+44 (0)20 3892 4389/ +44 7973 679502 |
FTI Consulting
|
Ben Atwell/Brett Pollard |
+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 40 years, we've been creating high-quality medicines and making them accessible to the people who need them. 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 8,500 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner in the MENA region, 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.
Perrigo Company PLC
Perrigo Company plc, a leading global healthcare company, delivers value to its customers and consumers by providing Quality Affordable Healthcare Products®. Founded in 1887 as a packager of home remedies, Perrigo has built a unique business model that is best described as the convergence of a fast-moving consumer goods company, a high-quality pharmaceutical manufacturing organization and a world-class supply chain network. Perrigo is one of the world's largest manufacturers of OTC healthcare products and suppliers of infant formulas for the store brand market. The Company also is a leading provider of branded OTC products throughout Europe and the U.S., as well as a leading producer of "extended topical" prescription drugs. Perrigo, headquartered in Ireland, sells its products primarily in North America and Europe, as well as in other markets, including Australia, Israel and China. Visit Perrigo online http://www.perrigo.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Latest directors dealings
- 52 minutes ago ASOS
- 1 hour ago MJ Gleeson
- 1 hour ago Rolls-Royce Holdings
- 1 hour ago Crest Nicholson Holdings
- 2 hours ago Naked Wines