LONDON (ShareCast) - (Sharecast News) - Drugmaker Hikma Pharmaceuticals has entered into an exclusive license agreement with Gedeon Richter to commercialise the latter's denosumab products in the US.
Hikma stated denosumab, made up of two biosimilar products referencing Prolia and Xgeva used for the treatment of osteoporosis and fractures due to bone metastasis, respectively, was currently in global phase one and phase three clinical studies.

The FTSE 100-listed firm highlighted that according to the agreement, Richter was responsible for the development of the products and will supply finished commercial products for the US market, while Hikma will register the products with the Food and Drug Administration and hold exclusive rights to commercialise them in the US.

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

As of 0830 GMT, Hikma shares were down 0.044% at 2,266.0p.

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