Hikma in-licenses proprietary injectable product
PRESS RELEASE
Hikma in-licenses major proprietary injectable product Ferinject® for the MENA region
London, 17 July, 2011: Hikma Pharmaceuticals (LSE: HIK) (NASDAQ Dubai: HIK) ("Hikma"), the fast growing pharmaceutical company, today announces that its wholly-owned subsidiary Hikma Pharmaceuticals Ltd. has entered into a licensing and distribution agreement with Vifor Pharma, a wholly-owned subsidiary of the Galenica Group, under which Hikma will market Ferinject®, Vifor Pharma's innovative treatment for iron deficiency, in the Middle East and North African region ("MENA"). The agreement will leverage Hikma's local presence, regional marketing and regulatory expertise, allowing Hikma to maximise the potential of one of the world's fastest-growing markets for iron deficiency products.
The agreement covers Algeria, Egypt, Iraq, Jordan, Lebanon, Libya, Morocco, South Sudan, Sudan, Syria, Tunisia and Yemen. Patients in these countries will gain access to Ferinject®, an efficacious, well tolerated and convenient treatment for iron deficiency. Hikma, with over 1,600 sales and marketing staff in the region, will receive exclusive rights to market and distribute a product that complements its portfolio of prescription pharmaceuticals. Vifor Pharma, one of the world's leaders in the treatment of iron deficiency, will see Ferinject® registered and brought to market far more quickly than would otherwise be possible.
"This collaboration is great news for Vifor Pharma. It is also very good news for all patients suffering from iron deficiency in the MENA region. These patients will soon have access to a new and much-needed therapeutic option," said Dr. David Ebsworth, CEO of Vifor Pharma. "I am delighted that Hikma - a company with great expertise and standing - shares our view of the potential of Ferinject® and has decided to contribute to the further success of the product."
Said Darwazah, CEO of Hikma Pharmaceuticals, said: "Ferinject® has been demonstrated to have a powerful impact in the treatment of iron deficiency. This agreement enables us to bring another world class product to patients in the MENA region and we look forward to a long and successful collaboration with Vifor Pharma."
The MENA pharmaceutical market is forecast to grow at an annualized rate of around 11% over the next five years, offering excellent growth potential for high quality innovative pharmaceuticals such as Ferinject®. The countries covered by the agreement have a combined population of approximately 295 million inhabitants.
Already registered in over 35 countries, Ferinject® offers patients, doctors and payers significant therapeutic and pharmaco-economic benefits over existing treatment options. Within the MENA region, the product has already received marketing authorisation for Lebanon. Preparations for regulatory submissions in the other countries are already underway, and both companies are optimistic that Ferinject® will be registered and made available to patients within a reasonably rapid time-frame.
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399 2760/07776 477 050
Financial Dynamics +44 (0)20 7831 3113
Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole
About Ferinject®
Ferinject® is an innovative intravenous iron replacement product discovered and developed by Vifor Pharma. Ferric carboxymaltose, the active pharmaceutical ingredient of Ferinject®, meets the unmet clinical need for an intravenous (i.v.) iron therapy that is not associated with dextran-induced hypersensitivity reactions with a low iron toxicity potential. Ferinject® can be administered in doses up to 1000mg iron in a 15-minute drip infusion or i.v. injection in patients with iron deficiency associated with a variety of clinical conditions.
To date, Ferinject® has gained marketing authorisation in 30 countries in Europe as well as in South Korea, Argentina, Russia, Australia and Lebanon, for the treatment of iron deficiency where oral iron is ineffective or cannot be used. In many countries, intravenous iron replacement products are primarily used to treat dialysis patients. However, iron deficiency is also a complication of many other illnesses. Vifor Pharma is evaluating new opportunities in the treatment of iron deficiency with Ferinject® in different therapeutic areas. Further trials with Ferinject® in chronic kidney disease (CKD), oncology (anaemia in cancer patients), cardiology (chronic heart failure), patient blood management and gynaecology are ongoing.
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational pharmaceutical 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 2010, Hikma achieved revenues of $731 million and profit attributable to shareholders of $99 million.
About Vifor Pharma
Vifor Pharma, the pharma business sector of the Galenica Group, is a world leader in the discovery, development, manufacturing and marketing of pharmaceutical products for the treatment of iron deficiency. The company also offers a diversified portfolio of prescription medicines as well as over-the-counter (OTC) products. Vifor Pharma, headquartered in Zurich, Switzerland, has an increasingly global presence and a broad network of affiliates and partners around the world.
For more information about Vifor Pharma and its parent company Galenica, please visit www.viforpharma.com and www.galenica.com.
This information is provided by RNS
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