Richter enters licensing agreement with Hikma Pharmaceuticals
Image by gedeonrichter.com
Hungarian pharmaceutical company Gedeon Richter said it entered into an exclusive license agreement with U.K.-headquartered Hikma Pharmaceuticals to commercialize its drug denosumab, used to treat osteoporosis and fractures due to bone metastasis, in the United States, according to an announcement on the website of the Budapest Stock Exchange.
Denosumab comprises two biosimilar products referencing the brands Prolia and Xgeva.
Under the agreement, Richter is responsible for the development of the products, conducting both Phase 1 and Phase 3 global clinical studies, and will supply the products for the U.S. market. Hikma will be responsible for registering the products with the U.S. Food and Drug Administration and will have exclusive rights to commercialize them in the United States.
Richter is eligible for an upfront payment and milestone payments totaling "a double-digit million USD figure" under the financial terms of the agreement.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
