Business
Hikma expands nasal spray capabilities
Hikma expands nasal spray capabilities.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n \nRNS Number : 4836I Hikma Pharmaceuticals Plc 09 August 2019 \n\nLondon, 9 August 2019 - 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 announces that it has signed an asset purchase agreement with Insys Therapeutics Inc. (Insys) to acquire a complementary manufacturing platform and two pipeline products.\n \nIn June 2019, Insys filed petitions seeking relief under Chapter 11 of the US Bankruptcy Code. As part of this process, Insys initiated a court-supervised process to sell its assets. This process has now concluded with respect to certain assets, and Hikma has agreed to acquire unit-dose nasal and sublingual spray manufacturing equipment, as well as two pipeline products, naloxone 505(b)2 nasal spray and epinephrine 505(b)2 nasal spray.\n \nBrian Hoffmann, President of Generics, stated, \"Hikma is the largest supplier of generic nasal sprays in the US and we have been looking for ways to build upon our strong manufacturing platform and expand our product portfolio. This acquisition adds unit-dose nasal spray manufacturing equipment, as well as two complex products to our pipeline. This new technology expands our existing nasal spray capabilities, creating a comprehensive platform, which we can leverage for both internal and partnership programmes.\"\n \nAbout naloxone \nNaloxone is a medication used to block or reverse the effect of opioids. Narcan® is the only nasal form of naloxone on the market. According to IQVIA, US sales of Narcan® were approximately $164 million in the 12 months ending June 2019. \n \nAbout epinephrine \nEpinephrine is a medication used to treat a number of conditions, including anaphylaxis, cardiac arrest, and superficial bleeding. According to IQVIA, US sales of epinephrine auto-injectors were approximately $4.3 billion in the 12 months ending June 2019. There are no currently approved nasal forms of epinephrine in the US.\n-- ENDS -\n \n \nEnquiries\nHikma Pharmaceuticals PLC\n\n\n\nSusan Ringdal\nEVP, Strategic Planning and Global Affairs\n\n\n+44 (0)20 7399 2760/ +44 7776 477050\n\n\n\n\nLucinda Baker\nDirector, Investor Relations\n\n\n+44 (0)20 7399 2765/ +44 7818 060211\n\n\n\n \nFTI Consulting \...