Healthcare Industry News: metformin
News Release - August 17, 2017
Hikma Announces Expanded Licensing Agreement with Takeda for New Products in the Middle East and North AfricaDUBAI, UAE, August 17, 2017 -- (Healthcare Sales & Marketing Network) -- Hikma Pharmaceuticals PLC (Hikma) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, through its wholly-owned subsidiary Hikma Pharmaceuticals LLC has reached an agreement with Takeda Pharmaceutical Company Limited (Takeda) to expand its licensing and distribution agreement with the global research and development-driven pharmaceutical company, adding new products to its portfolio in the Middle East and North Africa (MENA). Hikma will have the right to register, manufacture, market, distribute and sell four of Takeda's leading primary care products in 17 markets in the MENA region.
Under the terms of the agreement, which is effective immediately for all markets, Hikma has the exclusive rights to manufacture and commercialise three of Takeda's leading primary care product families - Alogliptin, including Alogliptin/metformin, Alogliptin/Pioglitazone (anti-diabetic), Azilsartan, including Azilsartan/Chlorothalidone (anti-hypertensive) and Lornoxicam in its rapid form (anti-inflammatory/ pain) - in its MENA markets. The agreement, however, does not include the Egyptian market for Alogloptin. Hikma also has exclusive rights to manufacture and commercialise Takeda's Dexlansoprozole in its MENA markets, with the exception of Saudi Arabia, the UAE and Egypt. Hikma's existing license agreement with Takeda in respect of Lornoxicam tablets (anti-inflammatory/ pain), has been expanded beyond Saudi Arabia and Jordan to cover Hikma's other MENA markets.
The new agreement builds on a long-standing strategic partnership between Hikma and Takeda. It leverages Hikma's substantial sales and manufacturing presence in the MENA and extensive experience of building brands in the region.
Mazen Darwazah, Executive Vice Chairman and CEO of MENA and Emerging Markets said, "Our large sales and marketing teams, with particular expertise in promoting cardiovascular and diabetes treatments, are well positioned to drive strong demand for Takeda's products. We are pleased to be building on our partnership with Takeda to bring important medicines to the MENA region. By working with global partners we are strengthening our product portfolio in growing therapeutic areas and reinforcing our commitment to improving patient access to quality medicines."
In turn, Danilo Cassani, Takeda's Vice President and Area Head Near East, Middle East & Africa said, "At Takeda, we put patients at the centre of everything we do. As such, our partnership with Hikma is a testament of our commitment to offer patients world-class cardiovascular and metabolism (CVM) medicines while keeping focus on our core therapeutic areas of oncology and gastroenterology. This will help better serve the unmet medical needs of patients."
About Hikma Pharmaceuticals
Hikma Pharmaceuticals PLC is a fast growing 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 primarily in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe. Hikma currently employs over 8,500 staff members worldwide.
Takeda Pharmaceutical Company Limited is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R&D efforts on oncology, gastroenterology and central nervous system therapeutic areas plus vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. New innovative products, especially in oncology and gastroenterology, as well as our presence in Emerging Markets, fuel the growth of Takeda. More than 30,000 Takeda employees are committed to improving quality of life for patients, working with our partners in health care in more than 70 countries. For more information, visit http://www.takeda.com/news.
Source: Hikma Pharmaceuticals
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