BRIEF—Arecor hands new drug formulation to partner Hikma

London-listed drug formulation specialist Arecor Therapeutics has reached a key milestone in the development of the ready-to-use injectable AT307, triggering a payment from partner Hikma Pharmaceuticals.

Arecor has been developing the specialty medicine under the terms of an  October 2020 agreement, using its drug formulation technology Arestat.

Hikma will now take full responsibility for further development and licensure in the USA. Analysts have forecast peak revenues of $75 million for the drug.

On a less positive note, Hikma has opted to hand back rights to AT282, the second RTU medicine under co-development, leaving Arecor to “assess options for seeking a new partner” for the candidate.

Hikma injectables president Riad Mishlawi said the partnership would “deliver difficult to achieve differentiated ready-to-use liquid formulations of products currently only available as lyophilised powders."