Business
Hikma signs licensing agreeme
Hikma signs licensing agreeme.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n RNS Number : 8131V Hikma Pharmaceuticals Plc 17 July 2009 \n\nHIKMA PHARMACEUTICALS PLC\n\n\nHikma signs licensing agreement with Faes Farma SA for anti-histamine Bilastine\n \nLondon, 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.\n \nThrough 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. \n \nBilastine 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). \n \nHikma 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.\n \nIt is expected that this agreement will be followed by others between HIKMA and FAES for additional licensed products.\n \nSaid 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 regi...