Hikma to launch colchicine in USA as Takeda’s injunction fails

Jordon-headquartered Hikma Pharmaceuticals (LSE: HIK) saw its shares rise 4.2% to a record high of £23.80, after a USA appeals court rejected Japanese drug major Takeda Pharmaceutical’s (TY0: 4502) bid to bock the firm’s launching of its gout drug colchicine.

Hikma will now prepare to distribute its colchicine 0.6mg capsules, which it will market under the brand name Mitigare. Hikma says it will also be preparing to launch an authorized generic of Mitigare, increasing patient access to this important product.

Said Darwazah, chairman and chief executive of Hikma, commented: “I am very pleased to be launching our colchicine products, demonstrating our success in developing a more differentiated product portfolio for the US market."

According to IMS Health, sales of colchicine – marketed by Takeda as Colcrys - in the US market were around $688 million for the 12 months ending August 2014, and analysts expect Hikma to capture at least half the US market.