Hikma Pharmaceuticals PLC (Hikma, Group), the multinational pharmaceutical group, today announces that it has agreed with Takeda Pharmaceuticals International AG (Takeda) to acquire the rights to 17 brands currently licensed to Hikma for select territories in the Middle East and North Africa (MENA) region.
Through a number of licensing contracts, the latest of which was entered into in 2017, Hikma developed a strategic partnership with Takeda to license, commercialise and, in some cases, manufacture a portfolio of products in the MENA region. Today the portfolio includes attractive and growing branded products used for cardiovascular, diabetes, gastroenterology and pain management.
Hikma has now agreed with Takeda that it will acquire the rights to these marketed brands. Hikma will continue to commercialise all 17 brands and will, over time, move the manufacture of these products in-house. This will ensure the continuity of supply of these important medicines, which are widely used by patients across the region. The acquisition will result in improved efficiency and cost saving opportunities, which will support the profitability of the Branded business.
Mazen Darwazah, Hikma’s Executive Vice Chairman and President of MENA said: “We have been successfully commercialising this portfolio of products across the region for a number of years, supported by our highly-specialised sales and marketing team with strong local market expertise. By bringing these products in-house, we will not only ensure an uninterrupted supply of products to our customers but will also have better control of our supply chain, which will result in cost saving opportunities over the medium term. We are confident this acquisition will strengthen our Branded business and reinforce our commitment to provide high-quality medicines to patients in MENA.”
The acquisition is subject to customary legal and regulatory closing conditions.
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