Hikma enhances its API sourcing capabilities (0956K)
July 11 2011 - 2:00AM
UK Regulatory
TIDMHIK
RNS Number : 0956K
Hikma Pharmaceuticals Plc
11 July 2011
PRESS RELEASE
Hikma enhances its API sourcing capabilities through a strategic
partnership with the Chinese pharmaceutical company Hubei Haosun
Pharmaceutical Co. Ltd.
London, 11 July 2011 - Hikma Pharmaceuticals PLC (LSE: HIK)
(NASDAQ Dubai: HIK) ("Hikma"), the fast growing multinational
pharmaceutical group, announces that it has acquired a significant
minority interest in Hubei Haosun Pharmaceutical Co. Ltd.
("Haosun") through the subscription of new equity for a cash
consideration of $5.0 million.
Haosun, a privately held company, develops and manufacturers
niche, difficult to make active pharmaceutical ingredients ("API")
with a specialization in oncology APIs. Haosun operates from its
state of the art US FDA and EU approved facility in China's Wuhan
province and its current product portfolio and development
pipeline, which covers a range of therapeutic areas, fits well with
Hikma's requirements.
Through this partnership Hikma gains access to a high quality,
long term source of API, particularly in the strategically
important area of oncology. The transaction demonstrates the
continuation of Hikma's strategy of enhancing its API sourcing and
research and development capabilities in key product areas.
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399
2760/07776 477 050
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
pharmaceutical 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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