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
Page & Page

Page & Page is a new kind of marketing communications consultancy. We change beliefs and behaviours to improve health outcomes...

Latest intelligence

The 10-year Web Challenge
Understanding your users’ needs is more critical online today than ever. A site should mould itself around these insights, deliver those needs quickly, efficiently and with plenty of white space....
Downloadable Pack: Understanding Multiple Sclerosis
Inside this downloadable pack, you’ll find a wealth of exclusive information on the way multiple sclerosis is commonly treated today. As well as areas of continuous improvement for the industry....
Cutting through the noise
AstraZeneca looks to lead an R&D revolution as the company invests in CRISPR and functional genomics drug discovery...

Infographics