Hikma Pharmaceuticals inks deal to buy Egypt-based EIMC United
Hikma Pharmaceuticals has agreed to acquire almost the entire share capital of Egypt-based EIMC United Pharmaceuticals (EUP) from a consortium of shareholders for an undisclosed sum.
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EUP is a pharmaceutical manufacturing company specialising in oncology products and Hikma said the deal will strengthen its position in the large and fast-growing Egyptian market.
Hikma said the transaction brings an attractive portfolio and pipeline in the key strategic areas of oncology and injectables, with the potential to add around 50 products by 2020. It also adds a manufacturing facility in Egypt with both oral and injectable lines and leverages Hikma’s establish market position in Egypt and strong sales and marketing team.
Mazen Darwazah, vice chairman and chief executive officer 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."