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news.MonoSol Rx, a drug delivery company, has entered into an agreement for thin film pharmaceutical products with Hikma Pharmaceutical, a multinational pharmaceutical group engaged in developing, manufacturing and marketing a broad range of generic and in-licensed pharmaceutical products across the Middle East and North Africa, the US and Europe.
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Under terms of the agreement, Hikma has acquired an exclusive license to distribute in the Middle East three thin film pharmaceutical products based on MonoSol Rx’s proprietary PharmFilm delivery technology.
Hikma will be responsible for obtaining all registrations and approvals required to market the products throughout the region. MonoSol Rx, which will exclusively supply the thin film products to Hikma, is eligible to receive milestone payments and payments for the purchase of product supply.
Mark Schobel, president and CEO of MonoSol Rx, said: “We are excited to enter an agreement with Hikma that extends the geographic foothold of our proprietary PharmFilm technology. As a leading pharmaceutical company serving the Middle Eastern markets, we are confident in Hikma’s ability to secure regulatory approvals and effectively sell three important thin film product formulations throughout the territory.