HIK Hikma Pharmaceuticals Plc

RNS Number:6344B
Hikma Pharmaceuticals Plc
19 April 2006






Hikma strengthens its position in the Saudi pharmaceutical market by acquiring
the remaining 52.5% of JPI


LONDON, 19 April 2006 - Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK), the
multinational pharmaceuticals group, announces that it has agreed to acquire the
remaining 52.5% interest in Al Jazeera Pharmaceuticals Industries Limited
("JPI") not already owned by Hikma for a cash consideration of Saudi Riyal (SR)
78.75 million, or approximately $21 million. Hikma has held its original 47.5%
interest in JPI since JPI was founded in 1994. JPI commenced its commercial
operations in June 1999.


JPI is a pharmaceutical company headquartered in Riyadh, Saudi Arabia. JPI sells
36 generic pharmaceutical products, including 5 products under licence and/or
promotion and distribution agreements, in more than six countries through its 65
sales and marketing representatives. At the end of 2005, JPI had 380 employees.
Under a management agreement, Hikma currently provides technical, manufacturing
and managerial support to JPI. It is anticipated that the existing management
team will continue to manage the business.


JPI's 15,100 square metre manufacturing facility in Riyadh has been certified by
the Saudi Arabian Ministry of Health and the State Institute for Drug Control in
Slovakia. In addition, JPI received US FDA approval for the manufacture of oral
cephalosporin products earlier this year.


According to IMS, JPI's share of the highly fragmented Saudi Arabian
pharmaceutical market in 2005 was 1.6%. Hikma's market share in Saudi Arabia in
2005 was 1.9%, implying a combined market share of 3.5%, or the 6th largest
share of the Saudi market.


For the year ended 31 December 2005, JPI reported net sales of SR 113.9 million
($30.4 million) and net income of SR 11.4 million ($3.1million). JPI had gross
assets of SR 179.1 million ($47.8 million) and total liabilities of SR 119.5
million ($31.9 million) at the end of 2005.


The completion of this transaction is conditional upon the consent of the Saudi
Arabian Government Investment Authority to the amendment of the company's
investment license and the approval by the Ministry of Commerce and Industry of
the transfer of the shares to Hikma. It is anticipated that the transaction will
be completed by the end of June 2006.


Samih Darwazah, Chairman & CEO of Hikma, commented: "Through this acquisition we
are executing on our strategy to consolidate our position in the Saudi Arabian
market and to gain greater exposure to the Gulf Cooperation Council countries,
some of the fastest growing markets in the Middle East and North Africa region."


                                    - ENDS -

Enquiries:

Hikma Pharmaceuticals PLC

Susan Ringdal                                             +44 20 7479 4896/4893
Investor Relations Director


Brunswick Group

Jon Coles / Wendel Verbeek / Justine McIlroy / Alex Tweed     +44 20 7404 5959



About Hikma

Hikma Pharmaceuticals PLC is a multinational pharmaceutical group focused on
developing, manufacturing and marketing a broad range of both branded and
non-branded generic and in-licensed pharmaceutical products. Hikma's operations
are conducted through three businesses: Generic, Branded and Injectable
Pharmaceuticals. Hikma's operations are based principally in the United States,
the Middle East and North Africa ("MENA") region and Europe. In 2005, the Group
had revenue of $262 million and profit attributable to shareholders of $44
million. At 31 December 2005, the Group had over 1,800 employees. For news and
other information, please visit www.hikma.com.






                      This information is provided by RNS
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