Hikma in Pact for Generic Respiratory DrugBy
Hikma Pharmaceuticals, an Amman, Jordan-headquartered pharmaceutical company, has signed a development and licensing agreement with Vectura, a Chippenham, UK-headquartered pharmaceutical company, for its generic respiratory-drug product, VR730 (salmeterol), a long acting beta-agonist (LABA) for treating asthma and chronic obstructive pulmonary disease. The agreement was signed through Hikma’s wholly owned US subsidiary, West-Ward Pharmaceuticals, headquartered in Eatontown, New Jersey.
The generic salmeterol is delivered using Vectura’s proprietary dry-powder inhalation technology and device. Under the agreement, Hikma will be responsible for the clinical development, manufacture, and commercialization of the product. Vectura will complete the formulation development of generic salmeterol, which will largely be funded by Hikma. Vectura will receive an initial payment of $375,000 and potential further development, filing, approval, and launch milestones up to an aggregate amount of $1.125 million. Vectura is also eligible for a share of future returns of the product, subject to certain recoveries by Hikma for the costs of a clinical endpoint pivotal trial.
Source: Hikma Pharmaceuticals