Hikma Announces Exclusive Licensing Agreement With Orion For Its New Easyhaler Product In MENA

Hikma Pharmaceuticals PLC (Hikma) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, today announces that it has signed an exclusive licensing and distribution agreement with Orion Corporation of Finland (Orion), for its new Easyhaler® combination product, a dry powder inhaler (DPI) of budesonide and formoterol, for the treatment of asthma and chronic obstructive pulmonary disease (COPD).

Under the terms of the agreement, Hikma has the exclusive rights to register, distribute, market and sell the product in all of its MENA markets, leveraging Hikma’s strong local presence, sales and marketing capabilities and regulatory expertise. 

Mazen Darwazah, Vice Chairman and CEO of MENA and Emerging Markets said, "We are pleased to be adding this important product to our respiratory pipeline and we hope this collaboration with Orion will be the beginning of a long partnership for its Easyhaler® device products in the MENA region.  Global partnerships are an integral part of our strategy to grow our portfolio in key therapeutic areas and improve patients’ access to high-quality medicines."

Markku Huhta-Koivisto, Senior Vice President of Orion's Proprietary Products division, commented, "I am excited about this collaboration between Orion and Hikma and look forward to having such a strong partner in the MENA region supporting the expansion of our Easyhaler® business.  This collaboration is also an excellent opportunity to deepen our longstanding relationship with Hikma.  We’re confident that the good momentum we have for our Easyhaler® products will continue and that this partnership with Hikma will, for its part, strengthen Orion's strategic objective to become a stronger player in the field of respiratory medication."

About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma operates through three businesses: "Injectables", "Branded" and "Generics", based principally in the United States, the Middle East and North Africa ("MENA") and Europe. In 2015, Hikma achieved revenue of $1,440 million and profit attributable to shareholders of $252 million.

About Orion
Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals, active pharmaceutical ingredients and diagnostic tests. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are central nervous system (CNS) disorders, oncology and respiratory for which Orion develops inhaled Easyhaler® pulmonary drugs. Orion's net sales in 2016 amounted to EUR 1,074 million and the company had about 3,500 employees. Orion's A and B shares are listed on Nasdaq Helsinki. Founded in 1917, Orion celebrates its centennial anniversary in 2017.