UK based Hikma has agreed to acquire the Egyptian Company for Pharmaceuticals &
Chemical Industries ("EPCI") from a consortium of shareholders. The MENA region is attracting lot of M&A interest and this is the third deal in the recent past. The other two being Joint Ventures. ( Hetero and NeoPharma, UCB and NewBridge)
Hikma will pay an aggregate cash consideration of EGP 142.4 million upon closing, or approximately USD 22.2 million, based on the current exchange rate. EPCI adds a complementary portfolio of 35 products (of which 27 are new to Hikma) in 46 dosage forms and strengths.
The acquisition will improve Hikma's presence in the following therapeutic areas
1) Cephalosporin anti-infectives,
2) Central nervous system and alimentary tract,
3) Ophthalmology market.
About Hikma
Hikma is a multinational generic company with a leading presence in the Middle East and North Africa (MENA) region and a presence in Europe and the US.
Hikma will pay an aggregate cash consideration of EGP 142.4 million upon closing, or approximately USD 22.2 million, based on the current exchange rate. EPCI adds a complementary portfolio of 35 products (of which 27 are new to Hikma) in 46 dosage forms and strengths.
The acquisition will improve Hikma's presence in the following therapeutic areas
1) Cephalosporin anti-infectives,
2) Central nervous system and alimentary tract,
3) Ophthalmology market.
About Hikma
Hikma is a multinational generic company with a leading presence in the Middle East and North Africa (MENA) region and a presence in Europe and the US.
Interesting news! Indeed the MENA region's pharma industry is rapidly growing.
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