Hikma signs agreement to sell Takeda’s primary care products regionally

REGIONAL- Jordanian med manufacturer Hikma signed an agreement with Takeda to expand licensing and distribution. The agreement allows Hikma to have the right to register, manufacture, market, distribute, and sell four of Takeda's leading primary care products in 17 markets in the MENA region. “The agreement, however, does not include the Egyptian market for Alogloptin. Hikma also has exclusive rights to manufacture and commercialise Takeda's Dexlansoprozole in its MENA markets, with the exception of Saudi Arabia, the UAE and Egypt.” Hikma had acquired Egypt’s EIMC United in early 2016 and had announced plans to open an EGP 500 mn cancer drug manufacturing plant later during the year. Separately, The FT’s Matthew Vincent says Hikma’s below forecast 1H2017 result shows the challenges for generic medication makers. CEO Said Darwazah blamed part of the drop in earnings on the EGP devaluation.