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news.Hikma Pharmaceuticals, a multinational pharmaceutical group, said that the dispute between West-Ward Pharmaceutical, Hikma's US agent and wholly-owned subsidiary, and Mutual Pharmaceutical Company, relating to the sale of oral colchicine tablets has been resolved to the parties' mutual satisfaction.
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West-Ward has discontinued its sales of oral colchicine until approval of its new drug application by the US Food and Drug Administration, reported Zawya.com.
In 2009, Hikma achieved revenues of $637m and profit attributable to shareholders of $78m.
Hikma reconfirms its previously stated guidance of at least 20% revenue growth for its US generics business for the full year 2010 and continues to expect its core US generics business to perform well in 2011.
Hikma Pharmaceuticals develops, manufactures and markets both branded and non-branded generic and in-licensed products. Hikma’s operations are conducted through three businesses: Branded, Injectables and Generics based primarily in the Middle East and North Africa region, the US and Europe.