Hikma, Arecor Enter Exclusive Agreement for Ready-to-Use Medicine

Generic pharmaceutical company, Hikma Pharmaceuticals, and biopharmaceutical company, Arecor, have entered into an exclusive agreement for the development and commercialization of a ready-to-use injectable medicine.

According to a Jan. 9, 2020 press release, the companies will co-develop the injectable medicine in the United States through Hikma’s affiliate, Hikma Pharmaceuticals USA. The product itself will be developed using Arecor’s proprietary drug formulation technology platform Arestat.

“We are pleased to enter into this partnership with Arecor. This is another important step forward for Hikma in developing and commercializing complex medicines and delivery systems that benefit patients and position our business for continued long-term growth,” said Riad Mishlawi, president, Hikma Injectables, in the press release. “We are confident that Arecor’s development platform, combined with Hikma’s strong manufacturing capabilities and excellent commercial team, with its broad relationships across US hospital systems, will bring an important new treatment option to patients and healthcare providers.”

“We are proud to be working with Hikma,” added Sarah Howell, CEO of Arecor, in the press release. “Arecor has an excellent track record in developing ready-to-use (RTU) and ready-to-administer (RTA) medicines, which are becoming increasingly important to enable fast, safe, and effective treatment of patients. Hikma has a strong and respected US hospital market presence and is focused on providing cost effective therapies which improve patient care and advance the delivery of medication. We look forward to the joint development of this first product as part of a broad collaboration with Hikma.”

Under the terms of the agreement, Arecor will receive an upfront payment and then further payments, dependent on the achievement of specified milestones. Hikma will take on manufacturing and commercialization responsibilities for the product. 

Approval for the product will be sought by Hikma under the US Food and Drug Administration’s 505(b)(2) regulatory pathway. Filing is expected to take place in 2021.

Source: Hikma