Last checked at 7 Apr 2010 07:00
Hikma and CellTrion enter an exclusive partnership agreement for biosimilars for the MENA Region
--Hikma acquires exclusive rights to large and distinct biosimilar portfolio comprised mainly of monoclonal antibodies -
London, 7 April 2010: Hikma Pharmaceuticals PLC ("Hikma")(LSE: HIK, NASDAQ Dubai: HIK), the fast growing multinational pharmaceutical group, today announces that it has signed an agreement with South Korea-based Celltrion, Inc. and Celltrion Healthcare, Inc. ("Celltrion"). Under this agreement Hikma has the exclusive rights for the distribution and marketing of nine biosimilar products throughout the MENA region under its own brand. These products are currently under development by Celltrion. The agreement also gives Hikma the ability to collaborate on the joint development and manufacture of the products for supply in the MENA region.
Hikma has also signed a Product Supply Agreement with Celltrion for the first of the nine biosimilar products, for which an Investigational New Drug application ("IND") has already been approved by various regulatory authorities, including EU countries.
Hikma estimates that the total biologics market in the MENA region will reach $500 million in 2010.
"Celltrion brings a history of expertise in the manufacturing of protein-based therapeutics," noted Said Darwazah, Chief Executive Officer of Hikma. "This partnership gives Hikma access to Celltrion's large biosimilar portfolio and is an excellent example of Hikma's commitment to developing its product portfolio through strong partnerships. We're excited to work with Celltrion and we look forward to expanding Hikma's presence in the MENA region with these significant biosimilars and to improving patient access to such critically needed therapies."
"Hikma has the capabilities and experience in generic injectable pharmaceuticals required to sell biosimilars successfully in these important markets," said Jung-Sin Seo, CEO and Chairman of Celltrion Healthcare, Inc. and Celltrion, Inc. "We believe this partnership will benefit both companies by combining Hikma's broad outreach with Celltrion's advanced biologic manufacturing capabilities."
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director Tel: +44 (0)20 7399 2760
Brunswick Group
Jon Coles / Justine McIlroy Tel: +44 (0)20 7404 5959
About Celltrion
Celltrion, Inc. (www.celltrion.com/en/default.asp) is a leading biopharmaceutical company in Korea specialising in monoclonal antibody capabilities to develop, manufacture and distribute biologics that contribute to human life. Based on its world-class technology in monoclonal antibody manufacturing, Celltrion has entered into strategic collaborations with a number of global pharmaceutical companies. In addition, Celltrion is preparing an initiative involving the newly emerging world mAb biosimilars market with its advanced development technology and state-of-the-art facility, and is currently developing a large portfolio of biosimilars of blockbuster biologics.
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational 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 principally in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe. In 2009, Hikma achieved revenues of $637 million and profit attributable to shareholders of $78 million. For news and other information, please visit www.hikma.com.