8th Sep 2015 06:13
LONDON (Alliance News) - Pharmaceutical company Hikma Pharmaceuticals PLC on Tuesday said it has struck a deal to acquire Egypt-based EIMC United Pharmaceuticals for an undisclosed amount.
FTSE 100-listed Hikma said EIMC United specialises in oncology products and said the deal will strengthen its position in the Egyptian market and will add an attractive oncology and injectables pipeline to its portfolio, with the potential to add around 50 products by 2020.
"Egypt is a very important market for Hikma and we have been rapidly growing our business there over the last few years. Acquiring EUP will further strengthen our market position and be a key driver of future growth. Across the group, expansion in the areas of oncology and injectables are key strategic priorities and I am very pleased to be developing our capabilities in the MENA region," said Mazen Darwazah, the vice-chairman of Hikma and its MENA region chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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