20th Apr 2007 14:57
Hikma Pharmaceuticals Plc20 April 2007 Hikma builds an integrated oncology platform LONDON, 20 April 2007 - Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (DIFX:HIK), the multinational pharmaceuticals group, announces that it has agreed toacquire Thymoorgan GmbH Pharmazie & Co. KG ("Thymoorgan"), a German contractmanufacturer of lyophilised and liquid injectables for both oncological andnon-oncological uses. The oncology capabilities of Thymoorgan are centred on cytotoxic products thatrequire significant handling expertise and specialised manufacturing processes.Thymoorgan's manufacturing facilities are located in Vienenburg, Lower Saxony,Germany and include two filling lines, four lyophilisers and cytotoxic materialhandling areas, together with packaging and warehouse facilities. In addition,the manufacturing site offers significant scope for expansion. The acquisitionis expected to be accretive to earnings in 2008 and, as at 31 December 2006, thevalue of Thymoorgan's gross assets are estimated at €8.6 million, based onThymoorgan's management accounts. Thymoorgan employs 51 employees. Samih Darwazah, Chairman & CEO of Hikma, commented: "Thymoorgan is an excellentbusiness. Having acquired Ribosepharm in January as a foundation for ouroncology business, we now have the ability to integrate our own oncologymanufacturing capability. This is expected to facilitate the expansion of ouroncology business and will help us to meet the rapidly growing demand foroncology drugs in our Middle East and North Africa, European and US markets." - ENDS - Enquiries: Hikma Pharmaceuticals PLCSusan Ringdal, Investor Relations Director +44 20 7399 2760 Brunswick GroupJon Coles / Justine McIlroy / Alex Tweed +44 20 7404 5959 About Hikma Hikma Pharmaceuticals PLC is a multinational pharmaceutical group focused ondeveloping, manufacturing and marketing a broad range of both branded andnon-branded generic and in-licensed pharmaceutical products. Hikma's operationsare conducted through three businesses: Generic, Branded and InjectablePharmaceuticals. Hikma's operations are based principally in the Middle East andNorth Africa ("MENA") region, the United States and Europe. In 2006, the Grouphad revenue of $317 million and profit attributable to shareholders of $55million. At 31 December 2006, the Group had over 2,443 employees. For news andother information, please visit www.hikma.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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