Hikma signs licensing agreeme
HIKMA PHARMACEUTICALS PLC
Hikma signs licensing agreement with Faes Farma SA for anti-histamine Bilastine
London, 16 July 2009: Hikma Pharmaceuticals PLC ('Hikma') (LSE:HIK) (NASDAQ Dubai: HIK), a leading speciality pharmaceutical company, today announces that its subsidiary Hikma Pharmaceuticals LLC has signed a licensing agreement for the anti-histamine Bilastine with FAES FARMA, S. A., a Spanish pharmaceutical company, for the Middle East & North Africa ('MENA') region.
Through this agreement FAES FARMA grants exclusive rights for the manufacture and distribution of Bilastine to Hikma for 17 MENA countries, while reserving its co-marketing rights in some of them.
Bilastine is a highly selective oral anti-histamine with an excellent safety profile aimed to treat allergic rhinitis and chronic urticaria. The anti-histamine market in the MENA region is approximately $115 million and has been growing at a rate of approximately 13% (Source: IMS Health).
Hikma will leverage its position as the largest regional pharmaceutical manufacturer and marketer in the MENA region with its extensive sales force of more than 1,100 sales representatives to drive sales of this important product. Hikma expects to achieve annual Bilastine sales of over $10 million after launching the product throughout its whole MENA territory.
It is expected that this agreement will be followed by others between HIKMA and FAES for additional licensed products.
Said Darwazah, Hikma's Chief Executive Officer commented: 'This agreement reinforces our position as the partner of choice for marketing branded products in the MENA region. In-licensing is a key part of our growth strategy in the region and accounts for more than 30% of sales in our Branded business. We are pleased to have secured the license for this important anti-histamine and look forward to making Bilastine available to our customers across the MENA region.'
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director Tel: +44 (0)20 7399 2760
Brunswick Group
Jon Coles / Justine McIlroy Tel: +44 (0)20 7404 5959
About Hikma
Hikma Pharmaceuticals PLC 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 2008, Hikma achieved revenues of $581 million and profit attributable to shareholders of $57 million. For news and other information, please visit www.hikma.com.
About the MENA region
The MENA region has a population of 270 million people and comprises the following countries: Morocco, Algeria, Tunis, Libya, Egypt, Sudan, Jordan, Lebanon, Syria, Iraq, Kuwait, Bahrain, Qatar, United Arab Emirates, Saudi Arabia, Yemen and Oman.
This information is provided by RNS
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