Please login to the form below

Not currently logged in
Email:
Password:

Hikma buys majority in Promopharm

Hikma Pharmaceuticals has acquired 63.9 per cent of Morocco-based company, Promopharm, for $111.2m with further plans for a full acquisition

Hikma Pharmaceuticals has acquired 63.9 per cent of Morocco-based company, Promopharm, for $111.2m.

Hikma, which is among the market leaders in the Middle East and North Africa, also said it intends to launch a mandatory tender offer for the remaining 36.1 per cent of Promopharm.

The company said it expects the deal to bring in more than $45m in annual revenue, with potential for growth in Morocco – the fourth largest pharmaceutical market in the Middle East and North Africa with annual retail value of $1.7bn.

Promopharm is the ninth largest manufacturer of pharmaceutical products in Morocco, with around 3.5 per cent of market share.

Promopharm's product portfolio, including therapies in the areas of musculoskeletal, respiratory, antiinfectives, central nervous system, cardiovascular and dermatology, will also be distributed in Hikma's existing markets.

4th October 2011

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
3 Monkeys Zeno

3 Monkeys Zeno is an award winning global creative communications consultancy – home to a collective of creative and strategic...

Latest intelligence

OUTiCO win Best in UK Pharmaceutical Outsourcing award
The Corporate LiveWire Healthcare and Life Sciences Awards celebrate global companies and individuals who have excelled over the past 12 months....
artificial-intelligence-in-healthcare.jpg
Artificial Intelligence in Healthcare
Artificial intelligence is already out-diagnosing experts, but would you put a computer in charge of your healthcare? The good, the bad; we take a look....
World Pancreatic Cancer Day 2018: Combating misconceptions in pancreatic cancer
Patients diagnosed with pancreatic cancer face a dismal prognosis, with the disease having the lowest survival rate of all major cancers. In spite of this, pancreatic cancer research is chronically...

Infographics