Hikma Pharmaceuticals Plc
11 September 2006
Hikma completes its acquisition of JPI in Saudi Arabia
LONDON, 11 September 2006 - Following the announcement made by Hikma
Pharmaceuticals PLC ('Hikma') (LSE: HIK) (DIFX: HIK), the multinational
pharmaceuticals group, on 19 April 2006 regarding the purchase of the remaining
52.5% interest in Al Jazeera Pharmaceuticals Industries Limited ('JPI') not
already owned by the Group, Hikma today announces that the transaction has been
completed. JPI was acquired for a cash consideration of Saudi Riyal (SR) 78.75
million, or approximately $21 million.
Samih Darwazah, Chairman & CEO of Hikma, commented: 'Through this acquisition we
are delivering on our strategy to consolidate our position in the Saudi Arabian
market and gaining greater exposure to the Gulf Cooperation Council countries,
some of the fastest growing markets in the Middle East and North Africa region.'
- 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 United States,
the Middle East and North Africa ('MENA') region and Europe. In 2005, the Group
had revenue of $262 million and profit attributable to shareholders of $44
million. At 31 December 2005, the Group had over 1,800 employees. For news and
other information, please visit www.hikma.com.
About JPI
JPI is a pharmaceutical company headquartered in Riyadh, Saudi Arabia. As of the
end of March 2005, JPI sold 36 generic pharmaceutical products, including 5
products under licence and/or promotion and distribution agreements, in more
than six countries through its 65 sales and marketing representatives. At the
end of 2005, JPI had 380 employees. JPI's 15,100 square metre manufacturing
facility in Riyadh has been certified by the Saudi Arabian Ministry of Health,
the State Institute for Drug Control in Slovakia, and the US FDA.
This information is provided by RNS
The company news service from the London Stock Exchange
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