Latest news with #Hikma
Mid East Info
6 days ago
- Business
- Mid East Info
Fitch upgrades Hikma Pharmaceuticals PLC's long-term issuer default rating to ‘BBB', outlook stable - Middle East Business News and Information
Hikma Pharmaceuticals PLC (Hikma, Company) is pleased to announce that Fitch has upgraded its long-term issuer default rating and the senior unsecured rating on Hikma Finance USA LLC's $500 million notes to 'BBB' from 'BBB-' with a stable outlook. Khalid Nabilsi, CFO of Hikma said: 'I am pleased that now both Fitch and S&P have upgraded Hikma to BBB, reinforcing our investment grade rating. These upgrades are a strong endorsement of our strategic direction, financial discipline, and operational resilience. They underscore Hikma's solid market position across key geographies and reflect confidence in our ability to consistently deliver strong financial results, supported by our diversified business model, robust balance sheet, and prudent capital allocation.' About Hikma: Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (LEI:549300BNS685UXH4JI75) (rated BBB/stable S&P and BBB/stable Fitch) Hikma helps put better health within reach every day for millions of people around the world. For more than 45 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across North America, the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We're committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 9,500 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world.
Scoop
25-05-2025
- Business
- Scoop
AFT And Hikma Extend US Maxigesic Cooperation
Press Release – AFT Pharmaceuticals The agreement will see Hikma take over all channels for Combogesic Rapid in the US apart from the license granted to Alexso for certain specific market categories allowing both forms of AFTs patented medicines to be marketed across the entire … AFT Pharmaceuticals (NZX:AFT, ASX:AFP) today announces it has extended its US Maxigesic® licensing agreement with Hikma Pharmaceuticals. The new agreement is aimed to maximise the commercial and patient care benefits that come with following the intravenous form of the pain relief medicine (marketed as Combogesic® IV in the US) in postoperative care with the tablet form of the medicine (Combogesic Rapid). The agreement will see Hikma take over all channels for Combogesic Rapid in the US — apart from the license granted to Alexso for certain specific market categories — allowing both forms of AFT's patented medicines to be marketed across the entire US market. The US is the world's largest market for pain relief1. AFT and Hikma have also agreed to a restructure of the profit share arrangements for Combogesic IV and tablets. The agreement amends the previous profit share which featured a fixed specified profit amount before sharing commenced, to now being a regular quarterly profit share payment. AFT will be more involved in the sales and marketing planning for Combogesic IV and Rapid, also making a contribution towards marketing. AFT sees potential for the new agreement to deliver greater commercial benefits than envisaged by the original agreements with Hikma2, one of the largest suppliers of injectable medications by volume in the US. AFT Pharmaceuticals Managing Director Dr Hartley Atkinson said: 'We are pleased to have reached this agreement with Hikma. Since the launch of Maxigesic IV last year, feedback from the market is that clinicians wish to follow non-opioid intravenous relief of mild to moderate pain with the tablet therapy – an approach that offers non opioid relief through all stages of recovery. 'The extension of the agreement with Hikma will allow delivery of this therapeutic option more effectively across the US. In so doing, we can not only help clinicians to offer comprehensive non-opioid pain relief, but we can also maximise the opportunity we see for both medicines in this market.' Dr Atkinson said he looked forward to progress with the two medicines in the US. 'US healthcare costs associated with opioid abuse are estimated at US$11 billion a year3. With 6% of patients administered an opioid postoperatively going on to consume the medicine chronically4, the two forms of Combogesic offer clinicians an opportunity reduce the risks associated with the effective management of post operative pain.' Notes: 1) 2) The intravenous licensing agreement provided for upfront, regulatory, and commercial milestone payments of up to US$18.8 million (of which US$6 million was received in 2024) for the commercialisation of Combogesic IV as well as a profit share from in market product sales. Milestones remain unchanged. These payments were to be shared with AFT and it development partner Hyloris Pharmaceuticals. AFT did not disclose commercial terms other than a profit share arrangement for the Combogesic Rapid agreement with Hikma. 3) annually 4) About AFT Pharmaceuticals AFT is a growing New Zealand based multinational pharmaceutical company that develops, markets, and distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic categories which are distributed across all major pharmaceutical distribution channels: over the counter (OTC), prescription and hospital. Our product portfolio comprises both proprietary and in-licensed products, and includes patented, branded, and generic drugs5. Our business model is to develop and in-license products for in our markets of Australia, New Zealand, Singapore, Malaysia, Hong Kong, USA, Canada, EU ex Ireland and UK, and to out license our products to local licensees and distributors to over 125 countries around the world. For more information about the company, visit our website
Scoop
25-05-2025
- Business
- Scoop
AFT And Hikma Extend US Maxigesic Cooperation
AFT Pharmaceuticals (NZX:AFT, ASX:AFP) today announces it has extended its US Maxigesic® licensing agreement with Hikma Pharmaceuticals. The new agreement is aimed to maximise the commercial and patient care benefits that come with following the intravenous form of the pain relief medicine (marketed as Combogesic® IV in the US) in postoperative care with the tablet form of the medicine (Combogesic Rapid). The agreement will see Hikma take over all channels for Combogesic Rapid in the US — apart from the license granted to Alexso for certain specific market categories — allowing both forms of AFT's patented medicines to be marketed across the entire US market. The US is the world's largest market for pain relief1. AFT and Hikma have also agreed to a restructure of the profit share arrangements for Combogesic IV and tablets. The agreement amends the previous profit share which featured a fixed specified profit amount before sharing commenced, to now being a regular quarterly profit share payment. AFT will be more involved in the sales and marketing planning for Combogesic IV and Rapid, also making a contribution towards marketing. AFT sees potential for the new agreement to deliver greater commercial benefits than envisaged by the original agreements with Hikma2, one of the largest suppliers of injectable medications by volume in the US. AFT Pharmaceuticals Managing Director Dr Hartley Atkinson said: 'We are pleased to have reached this agreement with Hikma. Since the launch of Maxigesic IV last year, feedback from the market is that clinicians wish to follow non-opioid intravenous relief of mild to moderate pain with the tablet therapy – an approach that offers non opioid relief through all stages of recovery. 'The extension of the agreement with Hikma will allow delivery of this therapeutic option more effectively across the US. In so doing, we can not only help clinicians to offer comprehensive non-opioid pain relief, but we can also maximise the opportunity we see for both medicines in this market.' Dr Atkinson said he looked forward to progress with the two medicines in the US. 'US healthcare costs associated with opioid abuse are estimated at US$11 billion a year3. With 6% of patients administered an opioid postoperatively going on to consume the medicine chronically4, the two forms of Combogesic offer clinicians an opportunity reduce the risks associated with the effective management of post operative pain.' Notes: 1) 2) The intravenous licensing agreement provided for upfront, regulatory, and commercial milestone payments of up to US$18.8 million (of which US$6 million was received in 2024) for the commercialisation of Combogesic IV as well as a profit share from in market product sales. Milestones remain unchanged. These payments were to be shared with AFT and it development partner Hyloris Pharmaceuticals. AFT did not disclose commercial terms other than a profit share arrangement for the Combogesic Rapid agreement with Hikma. 3) annually 4) About AFT Pharmaceuticals AFT is a growing New Zealand based multinational pharmaceutical company that develops, markets, and distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic categories which are distributed across all major pharmaceutical distribution channels: over the counter (OTC), prescription and hospital. Our product portfolio comprises both proprietary and in-licensed products, and includes patented, branded, and generic drugs5. Our business model is to develop and in-license products for in our markets of Australia, New Zealand, Singapore, Malaysia, Hong Kong, USA, Canada, EU ex Ireland and UK, and to out license our products to local licensees and distributors to over 125 countries around the world. For more information about the company, visit our website
Jordan News
15-05-2025
- Business
- Jordan News
Remembering Samih Darwazah
اضافة اعلان Ten years have passed since the passing of Samih Darwazah, God bless his soul, yet his legacy grows more relevant with time, one that never dies, like mathematical rules: they are indispensable to tackle problems yesterday, now and after a million story is not just the tale of a self-made businessman who built a global pharmaceutical empire—it is the story of a man who believed in the power of vision, integrity, and nation-building through industry. His mind was wired for depth, with a belief in man's ability to turn challenges into opportunities. When it came to ambition, the sky was his in Nablus in 1930 and educated at the American University of Beirut and later the St. Louis College of Pharmacy in Saint Louis, Missouri, in the United States, Darwazah returned to the region at a time when few dared to dream of industrial self-sufficiency. In 1978, he founded Hikma Pharmaceuticals in Amman with a clear goal: to manufacture high-quality, affordable medicine for the Arab world and beyond. His challenge, as he once said, was to prove that medicine made in Jordan could be of a quality that equals, or even surpasses, "foreign" pharma started as a modest operation would, in time, grow into a multinational company operating in more than 50 countries. In 2005, the company floated on the London Stock Exchange, and in 2015, it entered the FTSE 100 Hikma was never just about pharmaceuticals. Under Darwazah's leadership, it became a model for what Arab entrepreneurship could look like—rooted in values, guided by long-term thinking, and grounded in a deep commitment to people. He defied the narrative that the region must rely on imports and external expertise. From the very beginning, he assembled a team of savvy pharmacists and gave every one of his employees the opportunity to pursue their education to grow professionally. That plan was so successful that some of these staff members became independent entrepreneurs, proud that they were graduates of the Hikma Samih Darwazah, whose unlimited dreams are still pursued by his two sons, Said and Mazen, placed Jordan on the map as a country capable of producing world-class medication, with a skilled workforce and a competitive, export-ready set him apart was not only his visionary business sense, but also his principled approach. Colleagues and competitors alike always spoke of his "clean hands"—a phrase that captures both his ethical leadership and the transparency with which he conducted his contributions extended beyond boardrooms and balance sheets. He was a generous philanthropist who invested in education, particularly in underserved communities. His establishment of the all-girls state-of-the-art school in the Shobak region, among other initiatives, was rooted in his belief that opportunity begins with education—and that empowering women was essential to building a more just and prosperous he championed local industry not only out of nationalism, but also because he believed that dignity and independence are inseparable from economic self-reliance. That belief resonated deeply with a generation of Jordanian professionals who saw in him not only a role model, but also a source of national and Arab we mark the tenth anniversary of his passing, we need to remind ourselves that his real legacy lies in the enduring relevance of his vision. In a time of global uncertainty, we find ourselves returning to the same questions he answered with action decades ago: Can the Arab world produce? How can we realize industrial progress and harness it to serve people? The answers can be found through a glimpse into his remarkable Darwazah's example continues to inspire a generation of entrepreneurs, scientists, and policymakers who believe that excellence, ethics, and impact should go hand in hand to owe it to his memory not merely to celebrate him—but to carry forward the noble values he embodied. After all, in humanity's journey, heroes serve as our best examples.###
Reuters
08-05-2025
- Business
- Reuters
Hikma Pharma to pay $50 million to settle narcolepsy drug antitrust case
May 8 (Reuters) - Hikma Pharmaceuticals (HIK.L), opens new tab has agreed to pay $50 million to settle a class action accusing the drugmaker of scheming to delay a generic version of Jazz's blockbuster narcolepsy drug Xyrem, causing health plans to pay higher prices. The proposed settlement filed, opens new tab on Wednesday in the San Francisco federal court resolved claims from drug buyers including the city of Providence, Rhode Island, and the New York State Teamsters Council Health and Hospital Fund. The drug purchasers alleged an agreement between Hikma and Jazz to keep a generic version of Xyrem off the market violated U.S. antitrust law. In a separate settlement, Jazz said last month it will pay $145 million to resolve the claims against it. Both deals require approval by Chief U.S. District Judge Richard Seeborg. Hikma general counsel Sam Park in a statement said the agreement "protects the company's interests and provides clarity to our stakeholders." The company has denied any wrongdoing. Attorneys for the plaintiffs, in a court filing, called the settlement 'the result of hard-fought and adversarial litigation.' They did not immediately respond to a request for comment. Hikma was the remaining defendant in litigation that began with a series of lawsuits that were filed in 2020. Xyrem, a central nervous system depressant, has been on the market since 2002, when it was manufactured by Orphan Medical. Ireland-based Jazz acquired Orphan in 2005. The plaintiffs alleged Jazz illegally paid Hikma to keep a rival generic off the market longer than it otherwise would have been. They claimed Jazz raised the price of Xyrem by more than 800% between 2007 and 2014. Hikma had U.S. regulatory approval for a generic version of Xyrem by 2017. That year, Hikma settled its lawsuit challenging Jazz patents. Attorneys for the class said they would seek up to 33%, or about $65 million, of the total settlement fund of $195 million for legal fees. The case is In re: Xyrem (Sodium Oxybate) Antitrust Litigation, U.S. District Court for the Northern District of California, No. 3:20-md-02966-RS. For plaintiffs: Dena Sharp of Girard Sharp and Michael Buchman of Motley Rice For Hikma: Jack Pace III of White & Case Read more: 20 US states balk at Florida settlement with drugmaker Sandoz Mylan to pay $73.5 mln to settle drug wholesalers' EpiPen antitrust claims Drugmakers Apotex, Heritage to pay $49 mln to resolve states' price-fixing claims Jazz, Hikma must face 'reverse payment' claims over narcolepsy drug
