London, 11 July 2011 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (“Hikma”), the fast growing multinational pharmaceutical group, announces that it has acquired a significant minority interest in Hubei Haosun Pharmaceutical Co. Ltd. (“Haosun”) through the subscription of new equity for a cash consideration of $5.0 million.
Haosun, a privately held company, develops and manufacturers niche, difficult to make active pharmaceutical ingredients (“API”) with a specialization in oncology APIs. Haosun operates from its state of the art US FDA and EU approved facility in China’s Wuhan province and its current product portfolio and development pipeline, which covers a range of therapeutic areas, fits well with Hikma’s requirements.
Through this partnership Hikma gains access to a high quality, long term source of API, particularly in the strategically important area of oncology. The transaction demonstrates the continuation of Hikma’s strategy of enhancing its API sourcing and research and development capabilities in key product areas.
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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 2010, Hikma achieved revenues of $731 million and profit attributable to shareholders of $99 million.
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