London, 31 May 2016 – Hikma Pharmaceuticals PLC (Hikma) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), (rated Ba1 Moody’s / BB+ S&P, both stable), the fast growing multinational pharmaceutical group, today announces the approval of Fluticasone 50 MCG Spray, the store brand equivalent of Flonase®, by the U.S. Food and Drug Administration (FDA).
Flonase® (fluticasone propionate nasal spray USP, 50 mcg per spray) is indicated for the temporary relief of hay fever or other upper respiratory allergies in adult and paediatric patients 4 years of age and older. Combined generic and branded sales for the twelve months ending May 2016 were $343 million.
Hikma, through its wholly-owned subsidiary West-Ward Pharmaceuticals, has partnered with Perrigo Company plc, a leading supplier of over-the-counter (OTC) products, for the launch of this product in the OTC market. Perrigo expects to begin customer shipments immediately.
Michael Raya, Chief Executive of West-Ward Pharmaceuticals, said:
“We are very pleased to be working with Perrigo to improve access to this important product for consumers interested in purchasing fluticasone propionate nasal spray over-the- counter.”