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Hikma Signs Exclusive License Deal To Commercialise Gedeon Richter's Denosumab In U.S.

Hikma Pharmaceuticals Plc. (HIK,HIK.L), a supplier of generic injectable medicines, Thursday said it has entered into an exclusive license agreement with Gedeon Richter Plc to commercialise Richter's denosumab in the United States.

denosumab is a proposed biosimilar referencing Prolia and Xgeva. The products are used for the treatment of osteoporosis and fractures due to bone metastasis respectively and are currently in global Phase 1 and Phase 3 clinical studies.

Under the financial arrangements of the licensing deal, Richter is eligible for an upfront payment upon signature as well as certain milestone payments linked to reaching defined development stages totaling a double-digit million US dollar figure.

Under the deal, Richter is responsible for the development of the Products to conduct both Phase 1 and Phase 3 global clinical studies and will supply finished commercial Products for the US market. Hikma is responsible for registering the Products with the US Food and Drug Administration and will have exclusive rights to commercialise them in the US.

Siggi Olafsson, Chief Executive Officer of Hikma, said, "Biosimilars are a growing area of interest for Hikma and we are delighted to add two new products to our portfolio, building on our position as one of the leading suppliers of sterile injectable medicines in the US."

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