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Unilife Signs Long-Term Supply Agreement with Hikma to Enhance Delivery of Generic Injectables
Date:11/20/2013

YORK, Pa., Nov. 20, 2013 /PRNewswire/ -- Unilife Corporation ("Unilife") (NASDAQ: UNIS, ASX: UNS) today announced the signing of a long-term commercial supply contract with Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) for the use of Unifill® prefilled syringes with a range of generic injectable drugs.

Under the 15-year global agreement, Unilife will supply Hikma with customized prefillable delivery systems from its Unifill® platform, including the Unifill syringe and the Unifill Nexus("Unifill products"). 

Hikma has selected an initial list of 20 of its generic injectable products to be used with Unifill products. Unilife has granted Hikma exclusive global rights to its Unifill products for use with these specific generic injectable products. Additional injectable drugs may also be added to the exclusivity list subject to agreement by both parties.

Unilife will commence product sales to Hikma in early 2014. Under the terms of the contract, Unilife will supply Hikma a minimum volume of 175MM units per year following a rapid high-volume ramp up period.

In addition to product sales, Hikma will pay Unilife $40 million in upfront and milestone payments. An initial upfront payment of $5 million will be paid to Unilife immediately, with an additional $15 million in payments expected during 2014. The final $20 million in milestone-based payments will be paid the following year.

Market demand for generic injectables is rapidly shifting from vials to prefilled syringes.  However, conventional prefilled devices prevent universal attachment with any ISO standard needle hub or IV connector and are also associated with patient safety risks, including spontaneous disconnection and the leakage or occlusion of medication.  The superior design of Unilife's Unifill Nexus addresses these issues and is expected to rapidly become the preferred choice to de
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