London, 18 February 2014 – Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, today announces the signing of a license and supply agreement with SK Chemicals Co., Ltd. for its reformulated generic Rivastigmine transdermal patch, the first approved transdermal product for the treatment of mild to moderate dementia in patients with Alzheimer’s disease.
Under the terms of the agreement, Hikma will have the exclusive licensing rights to register, distribute and market Rivastigmine transdermal patch (4.6mg/24hr, 9.5mg/24hr and 13.3mg/24hr) in 18 MENA markets. The agreement will leverage Hikma’s strong local presence and regulatory expertise in MENA, with over 1,600 sales and marketing reps across the region. SK Chemicals’ product is the first generic of Rivastigmine transdermal patch and its launch in MENA will help to increase patients’ access to this important medicine.
Said Darwazah, CEO of Hikma said, "We are pleased to be partnering with SK Chemicals to bring Rivastigmine transdermal patch to patients in MENA. This is an excellent product and will enhance our growing portfolio of central nervous system products. Bringing the first generic of this innovative product to the MENA region supports our strategy of increasing patients’ access to high-quality, affordable medicines."
Inseork Lee, CEO of SK Chemicals added, "It’s an honour to be co-operating with Hikma and I am very confident that we can achieve success with this product through a combination of SK Chemicals’ accumulated R&D ability and Hikma’s outstanding sales and marketing capabilities in MENA."