OPNT - Opiant in pact with Hikma to market opioid overdose therapy in EU and U.K.

Santa Monica, California-based Opiant Pharmaceuticals (NASDAQ:OPNT) has entered into a licensing deal with U.K.-based rival, Hikma Pharmaceuticals (OTCPK:HKMPF) (OTCPK:HKMPY) for OPNT003, an experimental therapy targeted at Opioid overdose, the companies announced on Friday. Per the terms of the exclusive license agreement, Hikma (OTCPK:HKMPF) is responsible for getting EU approval for the drug and will have commercial rights for the drug in the EU and U.K. In return, Opiant (OPNT) will receive $175 million upfront payment in addition to $50 million milestone payment on the launch of the drug. The company plans to submit a New Drug Application for OPNT003 in 2H 2022.

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Opiant in pact with Hikma to market opioid overdose therapy in EU and U.K.