Hikma & GP Pharm signs license & supply agreement
Hikma signs license and supply agreement with GP Pharm for its leading oncology compound
London, 22 October 2012 - Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (NASDAQ Dubai: HIK) today announces the signing of a license and supply agreement for the registration and marketing of Lutrate® 1 month, GP Pharm's leading anti-cancer compound, for the Middle East and North Africa ("MENA") region. Lutrate® 1 month (leuprolide acetate 3.75 mg) is a hormonal androgen deprivation therapy to prevent tumor growth in patients with advanced prostate cancer.
Cancer is one of the leading causes of death in MENA. Prostate cancer is the third most prevalent type of cancer in the region, with an estimated 25,000 new cases diagnosed each year. With men over 60 most often affected, the incidence of prostate cancer is expected to increase dramatically as the population in MENA ages.
Under the terms of the agreement, Hikma will have the licensing rights to register, market and distribute Lutrate® 1 month in 23 countries across MENA. Hikma will also become the partner of choice in the MENA region for GP Pharm's pipeline of oncology products.
Mazen Darwazah, Hikma's Vice Chairman and CEO of MENA said, "Hikma is committed to improving the treatment of cancer in the region through the development of our oncology product portfolio. We are pleased to be licensing this innovative injectable treatment, which has excellent potential and complements our portfolio and pipeline. It is in line with Hikma's aim to deliver a reliable supply of high quality pharmaceutical products to MENA that reduce patients' dependency on a single source for treatment."
Dr. Berta Ponsati, GP Pharm's CEO said, "The success of Lutrate® 1 month is a direct reflection of GP Pharm's dedication and commitment to the development of new oncology treatments. We are excited about the potential for this important product in the MENA region and we look forward to working with Hikma."
--- ENDS ---
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399 2760/ 07776 477 050
FTI Consulting +44 (0)20 7831 3113
Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole
About Lutrate®
Lutrate® (leuprolide acetate 3.75 mg) belongs to a group of drugs called agonists of luteinising hormone-releasing hormone (LHRH), which are drugs that reduce testosterone (sex hormone).
Lutrate® 1 month has been approved in 23 countries in the European Union, including Spain, Germany, the UK and Italy. It is expected to be filed in the USA shortly and in a number of other countries worldwide. Other presentations of Lutrate® are currently under development by GP Pharm in 3 Month and 6 Month depots.
About GP Pharm
GP Pharm, is a Spanish biopharmaceutical company located in Barcelona. Its activities are focused on research, development, production and marketing of injectable products within the urology and oncology fields, some of them based on proprietary drug delivery systems. These technological platforms include microspheres and liposomes. The company works on the complete development of these drugs, from the preclinical studies until the launch to the market. These specialities are marketed either under GP's brands or through licenses.
About Hikma
Hikma Pharmaceuticals is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non branded generic and in-licensed products. Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based principally in the Middle East and North Africa (MENA) region, where it is a market leader, the United States and Europe. In 2011, Hikma achieved revenues of US$918.0 million and profit attributable to shareholders of US$80.1 million.
About Hikma Oncology
Hikma is considered one of the pioneers in the oncology therapeutic category in the MENA region, through both its in-house R&D capabilities and through its strong and continuous partnerships with multinational companies. Hikma's mission is to provide the health sector with a wide variety of oncology products covering innovative therapies, biosimilars and branded generics on a global scale. Currently Hikma has two oncology manufacturing facilities located in Germany and Jordan, with registrations in many countries including the United States, Germany, Portugal and in the MENA region.
This information is provided by RNS
Latest directors dealings
- 2 hours ago ASOS
- 2 hours ago MJ Gleeson
- 2 hours ago Rolls-Royce Holdings
- 3 hours ago Crest Nicholson Holdings
- 3 hours ago Naked Wines