Hikma Pharmaceuticals Plc Hikma update on global Injectables business (5149C)
April 17 2013 - 2:00AM
UK Regulatory
TIDMHIK
RNS Number : 5149C
Hikma Pharmaceuticals Plc
17 April 2013
PRESS RELEASE
Hikma provides update on its global Injectables business
London, 17 April 2013 - Further to its announcement of 1 March
2013 that it was undertaking a review of the strategic options for
its global Injectables business, Hikma Pharmaceuticals PLC
("Hikma") (LSE:HIK) (NASDAQ Dubai: HIK), the fast growing
pharmaceutical group, today announces that it has concluded this
strategic review and has determined that this business should
remain part of the Hikma Group.
Hikma's Board has noted the significant amount of interest shown
in its Injectables business by third parties, demonstrating both
the attractiveness of the global injectables market and the
strength of the business.
The Board believes that Hikma is uniquely positioned to create
significant further value by retaining this business and leveraging
its high quality manufacturing facilities, broad product portfolio,
attractive R&D pipeline and global distribution platform.
Hikma's Injectables business is performing very well and the Board
is confident in management's ability to continue to execute its
Injectables growth strategy.
Said Darwazah, CEO of Hikma, said "After a thorough review of
strategic options for the Injectables business, we are confident
that retaining and continuing to invest in this business is the
best option for shareholders. Injectables offers excellent
long-term growth prospects and will remain an integral part of our
overall growth strategy. By retaining the business, we will also
continue to benefit from our diversified business model, which
combines our global Injectables business with our oral generic
business in the US and our extensive presence and experience in the
Middle East and North Africa."
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399 2760/
07776 477 050
Lucinda Henderson, Investor Relations Manager +44 (0)20 7399
2765/ 07818 060 211
FTI Consulting +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 2012,
Hikma achieved revenues of $1,109 million and profit attributable
to shareholders of $100 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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