Hikma Plans to Partner Away From Branded Generics Focus In MENA
With local competitors in the MENA region increasingly able to compete on branded generics, Jordan’s Hikma is shifting the focus of its local operation towards partnering for patent-protected products.
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Also, deals involving AbCellera/Angios, AstraZeneca/Alchemab, Kowa/Esteve, OSE/Veloxis, Tris/Park, Core One/Akome and Vertex/Obsidian.
A stream of launches, including of vancomycin as its 100th injectable medicine in the US, is helping Hikma’s Injectables business segment to more than offset the effects of increased competition.
Hikma intends to reduce its geographic footprint from its current presence in around 50 countries worldwide, especially by focusing resources on only the most promising markets in the Middle East and North Africa (MENA) region, under a corporate strategy presented by Siggi Olafsson, who became chief executive officer around nine months ago. Olafsson also wants to treble the group’s return on research and development investment within the next five years.