1. Generics Bulletin

‘Not Just Growth In AG Xyrem’ Hikma Underlines Following Strong 2023

Lessening Of US Pricing Pressures Also Helps Put Hikma Back On An Even Keel

 
• By Dean Rudge

Hikma welcomed a strong and profitable 2023, driven by the nourishing effects of its authorized generic Xyrem product, which will fall back this year as the rate of royalties owed to the brand’s innovator climbs. But the company is optimistic it can continue growth in 2024, including through its $1.2bn Injectables division, which rushed in to fill supply gaps last year.

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Hikma’s management was keen to emphasize the growth potential for its other slate of portfolios and businesses after the company’s US authorized generic version of Jazz Pharmaceuticals’ Xyrem (sodium oxybate) 0.5g/ml oral solution soared above expectations in 2023, driving the London-listed firm’s annual Generics sales up by two-fifths to $937m, on the back of an admittedly “tough” 2022.

Moving into 2024, Hikma will step up significantly the royalties it will pay Jazz for the product. The firm debuted the product at the beginning of 2023, with a six-month exclusivity period and much more favorable royalties

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