Jordan’s Hikma Continues Buying Spree In MENA With Egypt Acquisition
This article was originally published in PharmAsia News
Hikma will acquire Egypt’s EPCI as part of its strategy to grow in the Middle East and North Africa region. It has its sites on Turkey, but says acquisition targets are too pricey for now.
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Jordanian drug maker Hikma Pharmaceuticals PLC acquired 63.9% of Moroccan branded generics firm Promopharm SA Oct. 3 in a cash deal worth $111.2 million. The acquisition gives Hikma access to the fourth largest pharmaceutical market in the Middle East and North Africa, additional manufacturing capacity and capability, and a perhaps stronger claim to its goal of being a partner of choice for multinationals across the MENA region
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