PRESS RELEASE
Hikma signs long term supply agreement with Unilife to enhance delivery of generic injectables
London, 20 November 2013 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, today announces that it has signed a long term commercial supply contract with Unilife Corporation ("Unilife") for the use of Unifill® prefilled syringes with a range of generic injectable drugs.
Under the 15-year global agreement, Unilife will supply Hikma with customised prefillable delivery systems from its Unifill® platform, including the Unifill syringe and the Unifill Nexus™ ("Unifill products"). For the exclusive global rights to use Unilife's Unifill products with a selection of Hikma's generic injectable products, Hikma will pay a total of $40 million, comprising an upfront payment of $5 million, an additional $15 million payment expected during 2014 and a further $20 million in milestone-based payments to be paid thereafter. Hikma has selected an initial list of around 20 of its generic injectable products to be used with Unifill products. Unilife will commence product sales to Hikma in early 2014.
Market demand for generic injectables is rapidly shifting from vials to prefilled syringes. However, conventional prefilled devices prevent universal attachment with any ISO standard needle hub or IV connector and are also associated with patient safety risks including spontaneous disconnection and the leakage or occlusion of medication. The superior design of Unilife's Unifill Nexus™ addresses these issues and Hikma believes this differentiated offering will become the preferred choice for delivering injectable drugs safely and effectively.
Said Darwazah, Chief Executive Officer of Hikma stated:
"This agreement supports our strategy of developing higher value products and we are extremely pleased to be partnering with Unilife to develop our generic injectables capabilities. We look forward to leveraging Unilife's innovative platform of Unifill syringes to differentiate our injectable products, strengthen our competitive position and increase our market share."
Mr Alan Shortall, Chief Executive Officer of Unilife said:
"Unilife has developed a full range of innovative and highly differentiated syringes under our Unifill platform to accommodate the needs of all prefilled biologics, drugs and vaccines. This strategic partnership with Hikma enables us to rapidly penetrate the large and fast growing market for generic injectables and supports our goal to become one of the largest suppliers of prefilled syringes in the world."
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, VP Corporate Strategy and Investor Relations +44 (0)20 7399 2760/ +44 7776 477050
Lucinda Henderson, Investor Relations Manager +44 (0)20 7399 2765/ +44 7818 060211
FTI Consulting
Ben Atwell/ Julia Phillips/ Matthew Cole +44 (0)20 7831 3113
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma operates through three businesses: "Branded", "Injectables" and "Generics", based principally in the Middle East and North Africa ("MENA"), where it is a market leader, the United States and Europe. In 2012, Hikma achieved revenues of $1,108.7 million and profit attributable to shareholders of $100.3 million.
About Unilife Corporation
Unilife Corporation (NASDAQ:UNIS / ASX: UNS) is a U.S. based developer and commercial supplier of injectable drug delivery systems. Unilife's broad portfolio includes prefilled syringes with automatic needle retraction, drug reconstitution delivery systems, auto-injectors, wearable injectors, intraocular delivery systems and novel devices. Each of these innovative, differentiated technology platforms can be customised to address specific customer, drug and patient requirements. Unilife's global headquarters and state-of-the-art manufacturing facilities are located in York, PA. For more information, please visit www.unilife.com or download the Unilife IRapp on your iPhone, iPad or Android device.
About the Unifill® Platform
Unilife has developed an extensive proprietary platform of prefilled syringes under its Unifill® brand. Unifill is the world's first and only known platform of prefilled syringes with automatic and fully integrated needle retraction. Designed for intuitive use by healthcare workers or self-injecting patients, an audible, tactile click signals the injection of the full dose and the automatic activation of the needle retraction mechanism. Users can control the speed of needle retraction directly from the body into the syringe barrel by relieving thumb or finger pressure on the plunger to eliminate the risk of needlestick injuries or the aerosolisation (splatter) of blood or tissue residue. Unifill syringes are compatible with standard filling and packaging processes, with USP compliant materials in the primary drug container.
About Unifill Nexus™
The Unifill Nexus is a glass prefilled syringe that can be universally attached to ISO standard needleless luer access devices (NLADs). The Unifill Nexus is designed to address patient safety concerns relating to the reported malfunction, breaking or clogging of some conventional glass prefilled syringes when attached to NLADs. Unlike some other needleless prefilled syringes, it features an ISO standard luer lock tip that is designed for universal attachment onto standard needle hubs and IV connectors and prevents the risk of spontaneous disconnection or leakage of medication. Like other syringes within the Unifill platform, the Unifill Nexus is compatible with standard filling and packaging processes and has USP compliant materials in the primary drug container.
