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Hikma launches new US injectables unit
10th Jan 2022 07:24
(Sharecast News) - Hikma Pharmaceuticals on Monday said it was expanding its injectables business with the launch of a new outsourced sterile compounding business in the US.
The new division, called Hikma 503B, is registering for state licenses across the US and expects to be operating nationwide by the end of 2022, it added.
Sterile compounding is the process of combining, mixing, or altering ingredients to create medications in ready-to-administer formats tailored to the needs of health care providers in a market worth more than $2bn a year, the company said in a statement.
"There is substantial demand for outsourced sterile compounded medicines among the thousands of hospitals we currently serve, representing a large opportunity to meet a growing and not fully met need within the US health care system," said Hikma's president of injectables Riad Mishlawi.
"Hikma 503B is uniquely positioned to bring pharmaceutical manufacturing standards to the space, which we believe will establish us as a significant player in the market over time."
The new division, called Hikma 503B, is registering for state licenses across the US and expects to be operating nationwide by the end of 2022, it added.
Sterile compounding is the process of combining, mixing, or altering ingredients to create medications in ready-to-administer formats tailored to the needs of health care providers in a market worth more than $2bn a year, the company said in a statement.
"There is substantial demand for outsourced sterile compounded medicines among the thousands of hospitals we currently serve, representing a large opportunity to meet a growing and not fully met need within the US health care system," said Hikma's president of injectables Riad Mishlawi.
"Hikma 503B is uniquely positioned to bring pharmaceutical manufacturing standards to the space, which we believe will establish us as a significant player in the market over time."