FTSE 250-listed pharmaceuticals group Hikma Pharmaceuticals has signed an agreement with EffRx for the licensing and distribution of osteoporosis treatment Binosto.
The treatment, which is to be distributed throughout the Middle East and North Africa (MENA), represents the only buffered solution for the treatment of osteoporosis, delivering fracture-risk reduction and offering the potential to improve adherence to therapy.
Under the terms of the agreement, Hikma will have the exclusive rights to register, market and distribute Binosto in 19 countries across MENA.
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Mazen Darwazah, Vice Chairman and Chief Executive Officer of MENA for Hikma, said: "We are pleased to be licensing this excellent product from EffRx. The agreement supports our strategy to continue working with global partners to strengthen our product portfolio in growing therapeutic categories, including women's health. Hikma is committed to bringing a broad range of high quality, pharmaceutical products to patients in MENA."
Christian Rosn, Chairman and Chief Executive Officer of EffRx Pharmaceuticals said: "We are thrilled to announce this partnership with Hikma, a company who we believe to be an ideal partner for EffRx in MENA. We believe Hikma's well-established sales force across the region can drive Binosto to a market leadership position and we are extremely proud to have Hikma as a partner."
Hikma's share price was up 0.49% to 828p at 10:59.
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