London, 20 September 2013 – Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (NASDAQ Dubai: HIK) today announces the signing of a license and supply agreement for Lutrate®, GP Pharm’s leading anti-cancer compound, in Germany and Portugal. Lutrate® (leuprolide acetate 3.75 mg) is a known hormonal androgen deprivation therapy to prevent tumor growth in patients with advanced prostate cancer.
GP Pharm’s Lutrate® depot formulation is a novel pharmaceutical product that incorporates GP Pharm’s patented microsphere technology for sustained release encapsulation. The same efficacy is observed, however, with less potential side effects for the patients due to a more controlled sustained release of the active pharmaceutical ingredient over time.
This agreement covers Lutrate® 1 month formulation, which has achieved regulatory approval in Europe and is already being marketed in several European countries, and the 3 month depot formulation which is still under development. In addition, the agreement includes an option for the 6 month depot formulation.This agreement for Germany and Portugal complements Hikma’s existing agreement to license and supply GP Pharm’s Lutrate® 1 month in the MENA region.
Said Darwazah, CEO of Hikma said, "We are pleased to be broadening our collaboration with GP Pharm. We believe the global oncology market offers excellent opportunities and this agreement helps to support our strategy to develop a portfolio of global oncology products."
Berta Ponsati, CEO of GP Pharm said, "We are delighted to sign this licensing agreement with Hikma Pharmaceuticals, which is well positioned to help increase the penetration of our key oncology product Lutrate® into Germany and Portugal. This licensing agreement provides further support to GP Pharm’s efforts to expand our reach within Europe."