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LONDON (Alliance News) - Hikma Pharmaceuticals PLC said Wednesday that it had signed a 15-year commercial supply contract with Unilife Corp.
Hikma will pay a total of USD40 million for exclusive global rights to use Unilife's Unifill products with a selection of Hikma's generic injectable products. Hikma will pay USD5 million upfront and further instalments of USD15 million in 2014 and USD20 million in milestone payments thereafter.
Hikma said that it has selected an initial list of around 20 generic products to be used with the Unifill syringes. Market demand for generic injectables is shifting from vials to pre-filled syringes, Hikma said.
Shares in the pharmaceutical company were trading down 2.1% at 1,187.00 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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