Hikma acquires Thymoorgan
Hikma Pharmaceuticals Plc
20 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 to
acquire Thymoorgan GmbH Pharmazie & Co. KG ('Thymoorgan'), a German contract
manufacturer of lyophilised and liquid injectables for both oncological and
non-oncological uses.
The oncology capabilities of Thymoorgan are centred on cytotoxic products that
require 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 material
handling areas, together with packaging and warehouse facilities. In addition,
the manufacturing site offers significant scope for expansion. The acquisition
is expected to be accretive to earnings in 2008 and, as at 31 December 2006, the
value of Thymoorgan's gross assets are estimated at €8.6 million, based on
Thymoorgan's management accounts. Thymoorgan employs 51 employees.
Samih Darwazah, Chairman & CEO of Hikma, commented: 'Thymoorgan is an excellent
business. Having acquired Ribosepharm in January as a foundation for our
oncology business, we now have the ability to integrate our own oncology
manufacturing capability. This is expected to facilitate the expansion of our
oncology business and will help us to meet the rapidly growing demand for
oncology drugs in our Middle East and North Africa, European and US markets.'
- ENDS -
Enquiries:
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 20 7399 2760
Brunswick Group
Jon Coles / Justine McIlroy / Alex Tweed +44 20 7404 5959
About Hikma
Hikma Pharmaceuticals PLC is a multinational pharmaceutical group focused on
developing, manufacturing and marketing a broad range of both branded and
non-branded generic and in-licensed pharmaceutical products. Hikma's operations
are conducted through three businesses: Generic, Branded and Injectable
Pharmaceuticals. Hikma's operations are based principally in the Middle East and
North Africa ('MENA') region, the United States and Europe. In 2006, the Group
had revenue of $317 million and profit attributable to shareholders of $55
million. At 31 December 2006, the Group had over 2,443 employees. For news and
other information, please visit www.hikma.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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