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LONDON - Hikma Pharmaceuticals PLC (LSE: HIK) has announced the acquisition of the U.S. Food and Drug Administration (FDA) approved Abbreviated New Drug Application (ANDA) for trametinib tablets from Novugen. This move grants Hikma exclusive rights to market the generic cancer treatment in the United States for a period of 180 days. The company, which InvestingPro data shows has maintained strong financial health with an EBITDA of $774.73 million in the last twelve months, continues to expand its market presence.
Trametinib is a kinase inhibitor used in cancer therapy, and its sales in the U.S. reached approximately $436 million over the 12 months ending December 2024, according to data from IQVIA. Hikma’s acquisition is set to enhance its generics business, which already supplies a variety of oral and inhalation generic products, including being the leading supplier of nasal sprays in the U.S. by volume. According to InvestingPro analysis, Hikma’s current market position appears slightly overvalued based on its Fair Value assessment, though the company has demonstrated solid revenue growth of 5.47% in the last twelve months.
Dr. Hafrun Fridriksdottir, president of Hikma Generics, emphasized the importance of expanding the company’s pipeline with essential medicines for the U.S. market. The collaboration with Novugen also includes a commercial agreement wherein Hikma will handle all U.S. sales and marketing, while Novugen will manufacture and supply the product. This strategic move aligns with Hikma’s strong financial foundation, with InvestingPro reporting the company has maintained dividend payments for 20 consecutive years and achieved a remarkable 58.58% total return over the past year.
Rahil Mahmood, CEO of Novugen, highlighted the strategic synergy of the partnership, underscoring the commitment to providing accessible and high-quality oncology treatments in the U.S. The collaboration is expected to leverage Hikma’s strong market presence and commercial capabilities.
The acquisition is part of Hikma’s ongoing strategy to address growing therapeutic areas and the need for essential medicines in the U.S. The company has a history of transforming cutting-edge science into innovative solutions that impact lives globally, with a particular focus on branded and non-branded generic medicines. With a healthy current ratio of 1.89 and strong profitability metrics, Hikma continues to demonstrate robust financial performance. Subscribers to InvestingPro can access additional insights, including 6 more ProTips and detailed financial metrics that help evaluate the company’s growth potential.
This news is based on a press release statement, and the product approval by the FDA does not authorize the marketing of trametinib outside the United States. Hikma and Novugen’s partnership reflects their shared dedication to improving healthcare access and treatment options for patients in need.
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