MENA-focused drug manufacturer, Hikma, has entered into a strategic partnership with Indian API and intermediates business, Unimark Remedies.
Under the agreement, Hikma will pay $33m (€23m) for a minority interest in the Mumbai-based API (active pharmaceutical ingredient) and intermediates manufacturer, whose range includes betalactams, cephalosporins and carbapenems.
“Through this strategic partnership, Hikma and Unimark will collaborate on the development of strategic APIs and ANDAs (abbreviated new drug applications),” said Said Darwazah, CEO of Hikma.
“Unimark’s strong technical and R&D capabilities will complement Hikma’s in-house R&D efforts and are expected to enable Hikma to bring more products in more therapeutic categories to market globally.
“Unimark has an excellent reputation for quality and we look forward to working with their experienced management and operational teams,” he added.
Unimark’s expertise covers a number of therapeutic sectors, including cardiovascular, anti-asthma and anti-infectives. The company operates three API facilities, two of which are US FDA approved, and two R&D centres, all of which are in India.
Mehul Parekh, managing director of Unimark said the deal represented a prime opportunity to work alongside a multinational company with an established market presence.
“This partnership reaffirms Unimark’s strong capabilities in both the development and manufacturing of APIs and its growing presence in formulations for both emerging and developed markets,” he said.
“Hikma is amongst the world’s leading generic companies with a strong presence in the MENA (Middle East and North Africa), US and European markets. We look forward to working with Hikma to nurture a mutually beneficial and long-term partnership.”
Founded in Jordan in 1978 by Samih Darwazah – father to current CEO, Said – Hikma became the first Arab company to export pharmaceutical products to the US. Hikma recently acquired Baxter Healthcare’s US generic injectables business, Multi-Source Injectables, for $112m (€79m).
The company now has FDA-approved production facilities in the US, Portugal, Jordan, Saudi Arabia and Germany, as well as sites in Italy and Algeria.