Hikma Pharmaceuticals PLC has agreed to acquire 98% of the share capital of EIMC United Pharmaceuticals (EUP) from a consortium of shareholders. EUP is a pharmaceutical manufacturing company specializing in oncology products.
The acquisition of EUP strengthens Hikma’s position in the fast-growing Egyptian market; brings a portfolio and pipeline in the key strategic areas of oncology and injectables (with the potential to add around 50 products by 2020); adds a manufacturing facility in Egypt, with both oral and injectable lines; and leverages Hikma’s established market position in Egypt and strong sales and marketing team.
Mazen Darwazah, Hikma Vice Chairman and CEO of MENA, said, "Egypt is a very important market for Hikma and we have been rapidly growing our business there over the last few years. Acquiring EUP will further strengthen our market position and be a key driver of future growth. Across the Group, expansion in the areas of oncology and injectables are key strategic priorities and I am very pleased to be developing our capabilities in the MENA region."
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