LONDON--Hikma Pharmaceuticals PLC (HIK.LN) said Monday it has signed an exclusive licensing and distribution agreement with Finnish pharmaceutical company Orion Corporation, for Orion's new Easyhaler combination product, a dry powder inhaler, for the treatment of asthma and chronic obstructive pulmonary disease.

The agreement gives Hikma the exclusive rights to register, distribute, market and sell the product in all of its Middle East and North Africa or MENA markets.

Hikma shares at 0925 GMT up 14 pence, or 0.7%, at GBP19.51, valuing the company at GBP4.68 billion.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

February 13, 2017 04:43 ET (09:43 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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