Hikma Pharmaceuticals PLC (Hikma, Group) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated Ba1 Moody’s / BB+ S&P, both stable), the multinational generic pharmaceutical company and Civica Rx (Civica, Inc.) today announce a five-year agreement to manufacture and supply Civica’s growing membership of US health systems with medications that are often in short supply in US hospitals.
Under the agreement, Hikma will produce 14 essential sterile injectable medications for Civica as a private label distributor, using Hikma’s Abbreviated New Drug Applications (ANDAs) and Civica’s labeling and National Drug Code (NDC). These medicines are used daily by hospitals in emergency care, surgery, pain management and in treating hypertension. The list of products included in the agreement will be publicly announced in the near future, and initial shipments are expected to begin before the end of 2019.
Civica was founded in 2018 by leading US hospital systems concerned about generic drug shortages and philanthropic organizations passionate about improving healthcare. To date, more than 30 health systems are Civica members, representing more than 900 US hospitals and approximately 30 percent of all licensed US hospital beds.
Hikma is the third largest US supplier of generic injectable medicines with a growing portfolio of more than 100 injectable products. Today, one in every six generic injectable medicines used in US hospitals is a Hikma product. During the last three years, Hikma has launched more than 20 medications into US shortage situations and in 2016 the company received a Drug Shortage Assistance Award from the US Food and Drug Administration (FDA) for its role in preventing or alleviating drug shortages.
“Hikma is thrilled to be partnering with Civica to reduce drug shortages, and we share their commitment to providing hospitals and doctors with a steady and reliable supply of high-quality injectable medicines needed for successful patient care,” said Daniel Motto, Hikma’s EVP of Commercial & Business Development, US Injectables. “This agreement recognizes both our ability to deliver a large and consistent supply of quality medicines, and the significant investments we have made to expand our injectable manufacturing capacity and capabilities.”