Statement re Completion of Acquisition

RNS Number : 7050F

Hikma Pharmaceuticals Plc

03 May 2011

 



Hikma completes the acquisition of Baxter Healthcare Corporation's Multi-Source injectables business

·     Acquisition of Multi-Source Injectables significantly enhances the scale and scope of Hikma's 
global Injectables platform

·     Hikma to focus on quick and seamless integration for customers and employees

London, 3 May 2011 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ DUBAI: HIK) ("Hikma"), the fast growing multinational pharmaceutical group, announces that it has completed its  $112 million acquisition of Baxter Healthcare Corporation's US generic injectables business ("Multi-Source Injectables" or "MSI"), significantly enhancing the scale and scope of its global Injectables platform.

As required by the United States Federal Trade Commission, Hikma will divest two West-Ward products, Phenytoin and Promethazine. This will not have a material impact on Hikma's Injectables revenues and will not affect the expected contribution from Baxter's Multi-Source Injectables business.

"The acquisition of Baxter's MSI business is transformational for Hikma," said CEO Said Darwazah. "The acquisition doubles the size of our global Injectables business and doubles our sales in the US market, while further diversifying our global revenue base. I am delighted to welcome our new employees and customers to Hikma."

ENDS

Enquiries

Hikma Pharmaceuticals PLC                                                                        [phone]

Susan Ringdal, Investor Relations Director                                         

Financial Dynamics                                                                                         [phone]

Ben Atwell/Julia Phillips/Jonathan Birt/Matthew Cole

About Hikma

Hikma Pharmaceuticals PLC is a fast growing multinational 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.  For news and other information, please visit www.hikma.com.

 

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