Hikma in five-year licensing and supply agreement with China's Hansoh

Hikma Pharmaceuticals has announced a five-year licensing and supply agreement with China's Hansoh Pharmaceutical Group.

The agreement provides Hikma with exclusive rights to market a suite of Hansoh's injectable oncology medicines within the US for the next five years. Hansoh expects to file these products for approval with the FDA within the next 12 months.

Hikma's executive vice president of commercial and business development, said: "Our partnership with Hansoh will expand Hikma's growing US portfolio of vital injectable oncology medicines and strengthens our ability to serve the growing needs of US hospitals, physicians and patients.

"We look forward to building relationships with Hansoh and other potential partners whose pharmaceutical products can benefit from our strong commercial relationships and our well-established sales and marketing infrastructure."

Riad Mechlaoui, Hikma's president of injectables, pointed out that every six generic injectable products used in US hospitals today is a Hikma product.

"We plan to continue adding specialised products like these to our growing portfolio of essential medicines," he said.

Hansoh is a research and development-driven pharmaceutical company with established leadership positions in some of China's largest and fastest-growing therapeutic areas including central nervous system, oncology, anti-infectives and diabetes.

At 0955 GMT, the shares were up 2% to 1,746.50p, also benefiting from an upgrade to 'buy' from 'hold' at Jefferies.