Statement re Completion of Acquisition (7050F)

TIDMHIK

RNS Number : 7050F

Hikma Pharmaceuticals Plc

03 May 2011

Hikma completes the acquisition of Baxter Healthcare Corporation's Multi-Source injectables business

-- Acquisition of Multi-Source Injectables significantly enhances the scale and scope of Hikma's global Injectables platform

-- Hikma to focus on quick and seamless integration for customers and employees

London, 3 May 2011 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ DUBAI: HIK) ("Hikma"), the fast growing multinational pharmaceutical group, announces that it has completed its $112 million acquisition of Baxter Healthcare Corporation's US generic injectables business ("Multi-Source Injectables" or "MSI"), significantly enhancing the scale and scope of its global Injectables platform.

As required by the United States Federal Trade Commission, Hikma will divest two West-Ward products, Phenytoin and Promethazine. This will not have a material impact on Hikma's Injectables revenues and will not affect the expected contribution from Baxter's Multi-Source Injectables business.

"The acquisition of Baxter's MSI business is transformational for Hikma, " said CEO Said Darwazah. "The acquisition doubles the size of our global Injectables business and doubles our sales in the US market, while further diversifying our global revenue base. I am delighted to welcome our new employees and customers to Hikma."

ENDS

Enquiries

Hikma Pharmaceuticals PLC +44 (0)20 7399 2760

Susan Ringdal, Investor Relations Director

Financial Dynamics +44 (0)20 7831 3113

Ben Atwell/Julia Phillips/Jonathan Birt/Matthew Cole

About Hikma

Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based principally in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe. In 2010, Hikma achieved revenues of $731 million and profit attributable to shareholders of $99 million. For news and other information, please visit www.hikma.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQPGUBUCUPGGQR

Hikma Pharmaceuticals (LSE:HIK)
Historical Stock Chart
From Jun 2024 to Jul 2024