London, 22 October 2012 – Hikma Pharmaceuticals PLC (“Hikma”) (LSE: HIK) (NASDAQ Dubai: HIK) today announces the signing of a license and supply agreement for the registration and marketing of Lutrate® 1 month, GP Pharm’s leading anti-cancer compound, for the Middle East and North Africa (“MENA”) region. Lutrate® 1 month (leuprolide acetate 3.75 mg) is a hormonal androgen deprivation therapy to prevent tumor growth in patients with advanced prostate cancer.
22 October 2012
Cancer is one of the leading causes of death in MENA. Prostate cancer is the third most prevalent type of cancer in the region, with an estimated 25,000 new cases diagnosed each year. With men over 60 most often affected, the incidence of prostate cancer is expected to increase dramatically as the population in MENA ages.
Under the terms of the agreement, Hikma will have the licensing rights to register, market and distribute Lutrate® 1 month in 23 countries across MENA. Hikma will also become the partner of choice in the MENA region for GP Pharm’s pipeline of oncology products.
Mazen Darwazah, Hikma’s Vice-Chairman and CEO of MENA said, “Hikma is committed to improving the treatment of cancer in the region through the development of our oncology product portfolio. We are pleased to be licensing this innovative injectable treatment, which has excellent potential and complements our portfolio and pipeline. It is in line with Hikma’s aim to deliver a reliable supply of high-quality pharmaceutical products to MENA that reduce patients’ dependency on a single source for treatment.”
Dr Berta Ponsati, GP Pharm’s CEO said, "The success of Lutrate® 1 month is a direct reflection of GP Pharm's dedication and commitment to the development of new oncology treatments. We are excited about the potential for this important product in the MENA region and we look forward to working with Hikma."