Richter, Hikma sign license and supply agreement for cariprazine
Image by Richter.hu
Hungarian drugmaker Gedeon Richter and U.K. peer Hikma Pharmaceuticals said on Thursday they have signed an exclusive license agreement to commercialize Richterʼs antipsychotic in certain Middle East and North African (MENA) markets.
Under the terms of the agreement, Richter will be responsible for product supply and Hikma will proceed with the registration and commercialization of the product in the following countries: Bahrain, Egypt, Jordan, Iraq, Saudi Arabia, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Sudan, Syria, and United Arab Emirates.
According to U.S.-based health information consultant IQVIA, sales of atypical antipsychotics in the contracted MENA markets totaled USD 153 million in the 12 months ending March 2019.
Richter will receive an upfront payment from Hikma. In addition, it will be entitled to sales-related milestone payments on achievement of certain targets, according to Hungarian news wire MTI.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.