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.