Hikma Pharmaceuticals Plc Hikma agrees to acquire EIMC United Pharmaceutical

TIDMHIK

Hikma Pharmaceuticals Plc

08 September 2015

PRESS RELEASE

Hikma agrees to acquire EIMC United Pharmaceuticals, strengthening its position in the large and fast growing Egyptian market

London, 8 September 2015 - Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, today announces that it has agreed to acquire 98.09% of the share capital of EIMC United Pharmaceuticals ("EUP") from a consortium of shareholders.

EUP is a pharmaceutical manufacturing company specialising in oncology products. The acquisition of EUP:

   --     Strengthens Hikma's position in the large and fast growing Egyptian market

-- Brings an attractive portfolio and pipeline in the key strategic areas of oncology and injectables, with the potential to add around 50 products by 2020

   --     Adds a manufacturing facility in Egypt, with both oral and injectable lines 
   --     Leverages Hikma's established market position in Egypt and strong sales and marketing team

The Egyptian pharmaceutical market is one of the three major pharmaceutical markets in the Middle East and North Africa ("MENA"). According to IMS Health,(1) the private retail market is valued at around $3.8 billion and grew by 8.3% in the twelve months to June 2015. With a population of approximately 87(2) million people, the Egyptian market offers excellent growth opportunities. Hikma Egypt is currently the eleventh largest pharmaceutical manufacturer in Egypt, with an estimated market share of 2.0%.(1)

Commenting on the transaction, Mazen Darwazah, Hikma Vice Chairman and CEO of MENA said, "Egypt is a very important market for Hikma and we have been rapidly growing our business there over the last few years. Acquiring EUP will further strengthen our market position and be a key driver of future growth. Across the Group, expansion in the areas of oncology and injectables are key strategic priorities and I am very pleased to be developing our capabilities in the MENA region."

HC Securities and Investment, the Cairo-based investment bank, acted as advisor to Hikma on this acquisition. The transaction is subject to certain regulatory approvals and closing conditions.

----- ENDS -----

Enquiries

Hikma Pharmaceuticals PLC

Susan Ringdal, VP Corporate Strategy and Investor Relations +44 (0)20 7399 2760/ +44 7776 477050

Lucinda Baker, Deputy Director of Investor Relations +44 (0)20 7399 2765/ +44 7818 060211

Zeena Murad, Investor Relations Manager +44 (0)20 7399 2768/ +44 7771 665277

FTI Consulting +44 (0)20 7831 3113

Ben Atwell / 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 2014, Hikma achieved revenues of $1,489 million and profit attributable to shareholders of $299 million.

1 IMS Health (local country data) MAT June 2015

2 The CIA World Factbook, July 2014 estimate

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRALRMFTMBBMBJA

(END) Dow Jones Newswires

September 08, 2015 02:01 ET (06:01 GMT)

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