Total biologics market in MENA region expected to reach US$500m this year
Jordan-based Hikma Pharmaceuticals has signed a distribution agreement with Celltrion of South Korea.
The agreement gives Hikma exclusive rights for the distribution and marketing of nine biosimilar products throughout the Middle East and North Africa (MENA) region under its own brand.
These products are currently under development by Celltrion.
Hikma has also signed a product supply agreement with Celltrion for the first of the nine biosimilar products, for which an Investigational New Drug application has already been approved by various regulatory authorities, including EU countries.
Hikma estimates that the total biologics market in the MENA region will reach US$500m in 2010.
‘We look forward to expanding Hikma's presence in the MENA region with these significant biosimilars and to improving patient access to such critically needed therapies,’ said Said Darwazah, chief executive of Hikma.
‘Hikma has the capabilities and experience in generic injectable pharmaceuticals required to sell biosimilars successfully in these important markets,’ added Jung-Sin Seo, chief executive of Celltrion. ‘We believe this partnership will benefit both companies.’