LONDON (dpa-AFX) - British generic pharmaceutical company Hikma Pharmaceuticals PLC (HIK.L, HKMPY) announced Thursday that it has signed an exclusive license agreement with Gedeon Richter PLC to commercialise cariprazine, a novel antipsychotic, in certain Middle East and North African or MENA markets.
Cariprazine, discovered by Gedeon Richter, is an oral, once daily atypical antipsychotic approved by the FDA for bipolar I disorder and schizophrenia in adults.
Under the deal terms, Richter will be responsible for product supply. Hikma will proceed with the registration and commercialisation of the product in the markets including Bahrain, Egypt, Jordan, Iraq, Saudi Arabia, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Sudan, Syria and United Arab Emirates.
Richter will receive from Hikma an upfront payment. In addition, Richter will be entitled to sales related milestone payments on achievement of certain targets.
Gedeon Richter markets the molecule on its own in Central-Eastern Europe, while it was licensed out to Allergan in the United States. Western European marketing rights were licensed to Recordati and other license agreements have been signed with local partners.
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