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Name | Symbol | Market | Type |
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Hikma Pharmaceuticals plc (PK) | USOTC:HKMPY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 51.914 | 50.01 | 53.08 | 40 | 16:38:30 |
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
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