London, 19 August 2015 – Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, today announces that it has signed a licensing and distribution agreement with Vitabiotics Ltd. ("Vitabiotics"), the UK's largest nutraceutical and vitamin company.
19 August 2015
Corporate, Press Release
Under the terms of the agreement, Hikma has the exclusive rights to register, market, distribute, and sell five of Vitabiotics' leading specialist range products, Liverel®, Diabetone-PN®, Cardioace®, Immunace®, Dopative®, in 15 of its Middle East and North Africa ("MENA") markets. In addition, Hikma will have the exclusive rights to market, distribute and sell the full Vitabiotics product range, which includes key products such as Osteocare®, Feroglobin®, Menopace®, Pregnacare® and Perfectil®, in in five of these markets. The partnership also aims to work in cooperation with existing Vitabiotics' partners in the MENA territories in order to broaden sales and distribution coverage.
The partnership will provide a significant opportunity for Hikma to collaborate with the UK's leading manufacturer of nutritional healthcare products. Building on the strengths of each company, the agreement will leverage Hikma's substantial local presence and extensive experience of building brands in the MENA. Hikma's large sales and marketing teams, with particular expertise in promoting cardiovascular, diabetes, CNS and anti-infective products, are well positioned to drive strong demand for Vitabiotics' rich portfolio of products, which include some of the fastest growing supplements in the UK and eight brand leaders.
Said Darwazah, Chairman and CEO of Hikma said, "We are pleased to be partnering with Vitabiotics and to be leveraging our leading commercial and distribution capabilities to enhance access to their products in the MENA region. Vitabiotics has created a unique portfolio of effective nutritional products that address consumer needs across a range of areas, including men's and women's health, pregnancy and joint and bone care. By working with global partners, we are strengthening our product portfolio in the MENA markets and improving patients' access to innovative, high-quality products."
Dr Kartar Lavani, CEO of Vitabiotics added, "The MENA region is of key strategic importance for Vitabiotics' growth and we plan to build strongly on the brand leading position we have already established in many markets across the region. We are therefore proud to have joined forces with such a highly professional and well respected organisation as Hikma. As well as having a leading pharmaceutical presence across the region, Hikma will work closely alongside our existing partners to increase access to our products for patients in the region."