Under this agreement Hikma has the exclusive rights for the distribution and marketing of nine biosimilar products throughout the Mena region under its own brand. These products are currently under development by Celltrion. The agreement also gives Hikma the ability to collaborate on the joint development and manufacture of the products for supply in the Mena region.
Hikma has also signed a Product Supply Agreement with Celltrion for the first of the nine biosimilar products, for which an Investigational New Drug application (IND) has already been approved by various regulatory authorities, including EU countries.
Hikma estimates that the total biologics market in the Mena region will reach $500m in 2010.
¡°Celltrion brings a history of expertise in the manufacturing of protein©\based therapeutics,¡± noted Said Darwazah, Chief Executive Officer of Hikma. ¡°This partnership gives Hikma access to Celltrion¡¯s large biosimilar portfolio and is an excellent example of Hikma¡¯s commitment to developing its product portfolio through strong partnerships. We¡¯re excited to work with Celltrion and we look forward to expanding Hikma¡¯s presence in the Mena region with these significant biosimilars and to improving patient access to such critically needed therapies.¡±
¡°Hikma has the capabilities and experience in generic injectable pharmaceuticals required to sell biosimilars successfully in these important markets,¡± said Jung©\Jin Seo, CEO and Chairman of Celltrion Healthcare, Inc. and Celltrion, Inc. ¡°We believe this partnership will benefit both companies by combining Hikma¡¯s broad outreach with Celltrion¡¯s advanced biologic manufacturing capabilities.¡±
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