Hikma Snaps Up Insys Sprays As Part Of US Drive Towards Differentiation
By acquiring global rights to epinephrine and naloxone nasal spray candidates from Insys, Hikma is following its strategy of moving its non-injectable Generics business segment in the US towards differentiated products.
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Hikma still sees a substantial opportunity in the generic Advair Diskus market once it makes it to market, according to CEO Siggi Olafsson, while rivals to GSK’s Ellipta range will also be coming into focus several years down the line. Meanwhile, nasal sprays gained through deals with Insys and Glenmark will aid in efforts to differentiate the firm’s non-injectables business in the US.
Hikma has struck a deal with Glenmark to gain US rights to its Ryaltris nasal spray. The agreement comes as Hikma reported sales ahead by 7% in 2019 on strong performances from the firm’s Injectables and Branded segments.
To secure long-term growth, Hikma CEO Siggi Olafsson is seeking to add a fourth strategic pillar to its global generic Injectables, US non-injectable Generics and Middle East and North Africa Branded business segments.