Hikma Pharmaceuticals Share News (HIK)

(Sharecast News) - Hikma Pharmaceuticals has launched an authorised generic version of Jazz Pharmaceuticals' 'Xyrem 1', or sodium oxybate oral solution, it announced on Tuesday.

The FTSE 250 company said it would have 180 days of marketing exclusivity for the product in the United States.

It said sodium oxybate oral solution at 0.5 grams per millilitre is a prescription medicine used to treat symptoms in people seven years and older with narcolepsy, including sudden onset of weak or paralysed muscles, or 'cataplexy', and excessive daytime sleepiness.

Jazz Pharmaceuticals reported net sales for Xyrem of $1.3bn in 2021.

"We are pleased to be able to provide the first authorised generic version of Xyrem to patients and health care providers in the US," said Hikma's president of generics Brian Hoffmann.

"This launch further expands our diversified portfolio of generic products, and underscores our ability to put better health within reach every day for the millions of people who rely on our medicines."

At 1324 GMT, shares in Hikma Pharmaceuticals were up 4.72% at 1,625.35p.

Reporting by Josh White for Sharecast.com.