Hikma Pharmaceuticals Plc
08 October 2007
Hikma announces conditional cash offer for Arab Pharmaceutical Manufacturing
LONDON, 7 October 2007 - Following the announcement, as required under Jordanian
Securities Rules, by Arab Pharmaceutical Manufacturing Co. Ltd. ('APMC') (ASE:
APMC), a Jordanian pharmaceutical manufacturer listed on the Amman Stock
Exchange, Hikma Pharmaceuticals PLC ('Hikma') (LSE: HIK) (DIFX: HIK), announces
that it has made a conditional offer ('the Offer') to acquire APMC for JD 116.0
million, or approximately $163.6 million. The Offer is conditional inter alia
upon the successful completion of due diligence, APMC shareholder approval and
regulatory approval.
The Board of Hikma will provide further information to the market in due course.
Merrill Lynch International is acting as exclusive financial adviser to
Hikma Pharmaceuticals PLC.
- ENDS -
Enquiries:
Hikma Pharmaceuticals PLC
Susan Ringdal Direct line: +44 20 7399 2760
Investor Relations Director Mobile: +44 7776 477 050
Brunswick Group
Jon Coles / Justine McIlroy / Alex Tweed +44 20 7404 5959
About APMC
APMC is a well-established pharmaceutical company that develops and manufactures
branded generic products. APMC has more than 85 products registered in 22
countries and its 200-strong sales and marketing team operates across 14 MENA
markets. The Company also manufactures and markets a number of in-licensed
products from leading global pharmaceutical companies. For the year ended 31
December 2006, APMC reported audited net sales of JD 29.1 million and net income
of JD 5.1 million, reported under IAS. For the six months ended 30 June 2007,
APMC reported net sales of JD 18.0 million and net income of JD 3.5 million.
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational group focused on
developing, manufacturing and marketing a broad range of both branded and
non-branded generic and in-licensed products. Hikma operates through three
businesses: 'Branded', 'Injectables' and 'Generics', based principally in the
Middle East and North Africa ('MENA'), where it is a market leader and sells
across 18 countries, the United States and Europe. In the year ended 31
December 2006, Hikma achieved revenues of $317 million (2005: $262 million) and
profit attributable to shareholders was $55 million (2005: $44 million). At 31
December 2006, the Group had over 2,400 employees. For news and other
information, please visit www.hikma.com
Merrill Lynch is acting exclusively for Hikma Pharmaceuticals PLC and its
subsidiaries and no one else in connection with the Offer and will not be
responsible to anyone other than Hikma Pharmaceuticals PLC and its subsidiaries
for providing the protections afforded to customers of Merrill Lynch or for
giving advice in relation to the Offer.
This information is provided by RNS
The company news service from the London Stock Exchange
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