Please login to the form below

Not currently logged in
Email:
Password:

Hikma makes USD 163.6m cash offer for Arab Pharmaceutical

UK-based Hikma Pharmaceuticals has made a conditional offer to acquire Jordanian pharmaceutical company Arab Pharmaceutical Manufacturing (APM) for approximately USD 163.6m in cash.

UK-based Hikma Pharmaceuticals has made a conditional offer to acquire Jordanian pharmaceutical company Arab Pharmaceutical Manufacturing (APM) for approximately USD 163.6m in cash.

The generics company already has a significant presence in the Middle East and North Africa (MENA) region, the US and Europe.

The APM offer is conditional upon the successful completion of due diligence and the approval of APM shareholders.

Merrill Lynch International is acting as financial advisor to Hikma for the transaction.

Hikma is currently trading at GBP 445.20 on the LSE, up GBP 0.020 or 0.04 per cent.

For H1 FY07, Hikma racked up USD 224.9m in revenue, compared with USD 154.9m in H1 FY06, a rise of 45.2 per cent. Operating profit was 51.8m, compared with USD 42.2m. Diluted EPS was USD 20.2m, compared with USD 17.2m, an increase of 17.4 per cent.

In H1 FY07, Hikma began production at its new cephalosporin plant in Portugal for the MENA region and Europe. The company also entered the injectable oncology market through the acquisitions of Ribosepharm and Thymoorgan in Germany and acquired 10 new oncology products. The company also entered the Egyptian market when it signed an agreement to acquire Alkan Pharma in August 2007.

30th September 2008

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
SpotMe

SpotMe is the leading technology and service provider of enterprise engagement platforms with a focus on live events, virtual and...

Latest intelligence

Theresa Heggie
Alnylam’s big moment: bringing groundbreaking RNAi drugs to Europe
Theresa Heggie talks about the biotech’s 16-year path to market, and the promise of its ‘gene silencing’ medicines...
patients
Retaining reader value in plain language summaries of clinical studies
Balancing the risk of misinterpretation with the public’s ability to understand simplified plain-language summaries...
Can we talk about the ego-bias and chemicals influencing your target audience’s behaviour?
Over the Summer, the Page & Page team became fascinated by two books on this very subject. Two books from one author, Dean Burnett, an eminent neuroscientist, lecturing at Cardiff...

Infographics