Edition:
United States

Hikma Announces Agreement With Vectura


Thursday, 8 Nov 2018 02:01am EST 

Nov 8 (Reuters) - Hikma Pharmaceuticals Plc ::HIKMA ANNOUNCES AGREEMENT WITH VECTURA.UPON SIGNING, HIKMA WILL MAKE AN UPFRONT PAYMENT OF $15 MILLION TO VECTURA.VECTURA WILL BE RESPONSIBLE FOR, AND FUND, INITIAL DEVICE AND FORMULATION DEVELOPMENT.DEAL FOR GLOBAL DEVELOPMENT AND COMMERCIALISATION OF GENERIC VERSIONS OF GSK'S ELLIPTA PORTFOLIO.UPON TRANSFER OF 1ST PRODUCT TO CO'S MANUFACTURING FACILITY, WILL MAKE $5 MILLION MILESTONE PAYMENT TO VECTURA.THEREAFTER, HIKMA WILL MAKE MILESTONE PAYMENTS OF UP TO $75 MILLION AT VARIOUS STAGES OF DEVELOPMENT.VECTURA WILL CONTRIBUTE UP TO $70 MILLION TOWARDS HIKMA'S DEVELOPMENT ACTIVITIES FOR PORTFOLIO.HIKMA PHARMACEUTICALS - VECTURA'S CONTRIBUTION TO BE MADE THROUGH REDUCED PROFIT SHARE MECHANISM FOLLOWING COMMERCIAL LAUNCH OF FIRST PRODUCT.