According to the agreement, Richter is responsible for the development of the Products (to conduct both Phase 1 and Phase 3 global clinical studies) and will supply finished commercial Products for the US market. Hikma is responsible for registering the Products with the US Food and Drug Administration and will have exclusive rights to commercialise them in the US.

Under the financial arrangements of the licensing agreement, Richter is eligible for an upfront payment upon signature as well as certain milestone payments linked to reaching defined development stages totalling a double-digit million USD figure.

“We are looking forward to collaborating with Hikma on this important biosimilar project targeting the US market,” said Gábor Orbán, Chief Executive Officer of Richter. “Extending our partnership with a highly respected company having a strong US presence further increases our confidence in the viability of our specialty pharma strategy.”

“Biosimilars are a growing area of interest for Hikma and we are delighted to add two new products to our portfolio, building on our position as one of the leading suppliers of sterile injectable medicines in the US,” said Siggi Olafsson, Chief Executive Officer of Hikma. “This key collaboration is highly complementary and strengthens our US oncology and auto-immune offerings. Gedeon Richter brings strong technical capabilities for biological products which, combined with our well-established commercial presence in the US market makes for a partnership with exciting potential.”

This agreement, which builds on Richter and Hikma’s existing partnership in MENA, will help equip doctors and patients in the US with more treatment options.

About denosumab

Denosumab is marketed under two brands – it is a biosimilar to the reference products Prolia^® (60 mg/ml solution for injection in PFS)  and Xgeva^® (120 mg/1,7 ml solution for injection in vial), a human monoclonal antibody for the treatment of osteoporosis and fractures due to bone metastasis. Denosumab is a RANKL inhibitor which works by preventing the development of osteoclasts, which are cells that break down bone. It is used for patients with osteoporosis at high risk for fractures, bone loss due to certain medications, and in cancer patients with bone metastases or giant cell tumours of the bone.