The deal focuses around MonoSol’s PharmFilm technology, which is about the size of a postage stamp and is designed to rapidly dissolve on the tongue and release active pharmaceutical ingredients (API) for absorption.
Hikma has acquired an exclusive license to distribute three as yet unidentified drug products that utilise MonoSol’s technology in the Middle East. Hikma will be responsible for obtaining all registrations and approvals required to market the products.
A recent report by industry analysts Kalorama Information suggests that MonoSol’s efforts to build a Middle Eastern presence are timely given the local pharmaceutical market’s potential for growth.
The report argues that while at present the region constitutes as small per cent of the global pharmaceutical market, an ever-increasing population and governmental healthcare reforms are likely to boost demand morden medicines.
Mark Schobel, MonoSol’s CEO, said that the Hikma deal was key to expanding the geographic footprint of the PharmFilm platform adding that Hikma’s strong presence in the region would be vital to this strategy.
Hikma CEO Said Darwazah, echoed these thoughts adding that: "Our collaboration with MonoSol Rx is an excellent opportunity for us to offer differentiated thin film products throughout the Middle East.”
London-based Hikma has nine manufacturing facilities across the MENA region, which it gained through the acquisition of Jordan’s Arab Pharmaceutical and Egypt’s Alkan Pharma late last year for $163m and $60m respectively.
In addition, several of Hikma’ production facilities have been approved by the Food and Drug Administration (FDA) which, given the US patent protection afforded to PharmFilm in September, may suggest that a further collaboration between the two firms may be on the cards.