Hikma update on global Injectables business
PRESS RELEASE
Hikma provides update on its global Injectables business
London, 17 April 2013 - Further to its announcement of 1 March 2013 that it was undertaking a review of the strategic options for its global Injectables business, Hikma Pharmaceuticals PLC ("Hikma") (LSE:HIK) (NASDAQ Dubai: HIK), the fast growing pharmaceutical group, today announces that it has concluded this strategic review and has determined that this business should remain part of the Hikma Group.
Hikma's Board has noted the significant amount of interest shown in its Injectables business by third parties, demonstrating both the attractiveness of the global injectables market and the strength of the business.
The Board believes that Hikma is uniquely positioned to create significant further value by retaining this business and leveraging its high quality manufacturing facilities, broad product portfolio, attractive R&D pipeline and global distribution platform. Hikma's Injectables business is performing very well and the Board is confident in management's ability to continue to execute its Injectables growth strategy.
Said Darwazah, CEO of Hikma, said "After a thorough review of strategic options for the Injectables business, we are confident that retaining and continuing to invest in this business is the best option for shareholders. Injectables offers excellent long-term growth prospects and will remain an integral part of our overall growth strategy. By retaining the business, we will also continue to benefit from our diversified business model, which combines our global Injectables business with our oral generic business in the US and our extensive presence and experience in the Middle East and North Africa."
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399 2760/ 07776 477 050
Lucinda Henderson, Investor Relations Manager +44 (0)20 7399 2765/ 07818 060 211
FTI Consulting +44 (0)20 7831 3113
Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole
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 2012, Hikma achieved revenues of $1,109 million and profit attributable to shareholders of $100 million.
This information is provided by RNS
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