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.
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