Pharmas Assess Impact In Egypt; Local Player Hikma Less Exposed, Say Analysts
This article was originally published in PharmAsia News
Executive Summary
As drug makers restart their Egyptian operations, financial analysts have begun to assess the impact of recent events for the pharma industry. As the largest pharma market in the Middle East, Egypt has attracted both multinational and local drug makers, but local firms such as leading Jordanian pharma Hikma may see less disruption from political events than MNC counterparts, according to Credit Suisse analysts
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For a company like Hikma Pharmaceuticals PLC with over half of its business operating in the Middle East and North Africa, the first half of 2011 has been a challenging time. The political instability in many countries, especially in Egypt and Tunisia, has hurt Hikma's growth and profitability in the first six months