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Hikma Pharmaceuticals announced a $15 million investment from its venture capital arm, Hikma Ventures, in Activ Surgical, enhancing the Series B financing to a total of $60 million. Activ Surgical is developing AI-driven surgical technologies aimed at improving surgical outcomes. The ActivSight imaging module, which enhances visualization during surgery, has received FDA clearance and is set for broader availability in 2022. This investment will facilitate Activ Surgical's global launch, empowering surgeons with advanced decision-making tools and improving patient safety.
Hikma Pharmaceuticals PLC has launched Hikma 503B, a new outsourced sterile compounding business aimed at providing high-quality, ready-to-administer injectable medications tailored for US healthcare providers. The US market for outsourced compounded sterile injectable medications is expected to exceed $2 billion annually. Hikma is the second-largest supplier of generic injectables in US hospitals. The new facility in Dayton, NJ, enhances their capacity to meet rising demand and will comply with FDA's CGMP standards. Hikma 503B is set to operate nationwide by the end of 2022.
Hikma Pharmaceuticals has announced a donation of 50,000 vials of Naloxone HCl Injection to the Opioid Safety and Naloxone Network (OSNN) Buyers Club, aiding in the critical shortage of this life-saving treatment for opioid overdoses in the US.
The donation originates from Hikma's sterile injectable manufacturing facility in Cherry Hill, NJ, and aligns with the company's Hikma Community Health initiative, focusing on addressing substance use disorder. Hikma aims to enhance access to naloxone amidst an ongoing overdose crisis.
Hikma Pharmaceuticals has announced its agreement to acquire Custopharm Inc. for $375 million, with an additional $50 million contingent upon meeting commercial milestones. This acquisition enhances Hikma's portfolio, adding 13 approved products and bolstering its R&D capabilities through Custopharm's scientific team and laboratory. Custopharm is expected to generate over $80 million in revenue for the full year of 2021. The transaction is pending approval from the US Federal Trade Commission.
Hikma Pharmaceuticals PLC has announced an exclusive US license agreement with FAES Farma S.A. to commercialize Bilastine tablets, an antihistamine for allergic rhinitis and urticaria. Hikma will obtain FDA regulatory approval and handle commercialization upon approval, providing upfront and milestone payments along with royalties to FAES. This partnership builds on an existing collaboration in the Middle East and North Africa, where Hikma is the exclusive licensee for Bilastine in 15 countries, aiming to enhance its presence in the US allergy market.