Collect from Hikma websiteHikma signs long term supply agreement...

Collect from Hikma website

Hikma signs long term supply agreement with Unilife to enhance delivery of generic injectables



London, 20 November 2013 – Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, today announces that it has signed a long term commercial supply contract with Unilife Corporation (“Unilife”) for the use of Unifill® prefilled syringes with a range of generic injectable drugs.

Under the 15-year global agreement, Unilife will supply Hikma with customised prefillable delivery systems from its Unifill® platform, including the Unifill syringe and the Unifill Nexus™ (“Unifill products”). For the exclusive global rights to use Unilife’s Unifill products with a selection of Hikma’s generic injectable products, Hikma will pay a total of $40 million, comprising an upfront payment of $5 million, an additional $15 million payment expected during 2014 and a further $20 million in milestone-based payments to be paid thereafter. Hikma has selected an initial list of around 20 of its generic injectable products to be used with Unifill products. Unilife will commence product sales to Hikma in early 2014.

Market demand for generic injectables is rapidly shifting from vials to prefilled syringes. However, conventional prefilled devices prevent universal attachment with any ISO standard needle hub or IV connector and are also associated with patient safety risks including spontaneous disconnection and the leakage or occlusion of medication. The superior design of Unilife’s Unifill Nexus™ addresses these issues and Hikma believes this differentiated offering will become the preferred choice for delivering injectable drugs safely and effectively.

Said Darwazah, Chief Executive Officer of Hikma stated:
“This agreement supports our strategy of developing higher value products and we are extremely pleased to be partnering with Unilife to develop our generic injectables capabilities. We look forward to leveraging Unilife’s innovative platform of Unifill syringes to differentiate our injectable products, strengthen our competitive position and increase our market share.”

Mr Alan Shortall, Chief Executive Officer of Unilife said:
“Unilife has developed a full range of innovative and highly differentiated syringes under our Unifill platform to accommodate the needs of all prefilled biologics, drugs and vaccines. This strategic partnership with Hikma enables us to rapidly penetrate the large and fast growing market for generic injectables and supports our goal to become one of the largest suppliers of prefilled syringes in the world.”