Hikma’s Olafsson Sees Benefits From Broad Injectables Portfolio
Lessens Impact As Products In Shortage Return To US Market
Shortages are still driving growth in the US injectables market for Hikma, but the breadth of the firm’s portfolio means it has less exposure to the pressures of in-shortage products returning to market, according to CEO Siggi Olafsson.
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Hikma CEO Siggi Olafsson says the firm is in a position to execute a major deal if the right opportunity comes along, but is not under any pressure to pursue M&A for its own sake.
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.