Business
Hikma acquires Thymoorgan
Hikma acquires Thymoorgan.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n Hikma Pharmaceuticals Plc\n20 April 2007\n\n\n Hikma builds an integrated oncology platform\n\n\nLONDON, 20 April 2007 - Hikma Pharmaceuticals PLC ('Hikma') (LSE: HIK) (DIFX:\nHIK), the multinational pharmaceuticals group, announces that it has agreed to\nacquire Thymoorgan GmbH Pharmazie & Co. KG ('Thymoorgan'), a German contract\nmanufacturer of lyophilised and liquid injectables for both oncological and\nnon-oncological uses.\n\nThe oncology capabilities of Thymoorgan are centred on cytotoxic products that\nrequire significant handling expertise and specialised manufacturing processes.\nThymoorgan's manufacturing facilities are located in Vienenburg, Lower Saxony,\nGermany and include two filling lines, four lyophilisers and cytotoxic material\nhandling areas, together with packaging and warehouse facilities. In addition,\nthe manufacturing site offers significant scope for expansion. The acquisition\nis expected to be accretive to earnings in 2008 and, as at 31 December 2006, the\nvalue of Thymoorgan's gross assets are estimated at €8.6 million, based on\nThymoorgan's management accounts. Thymoorgan employs 51 employees.\n\nSamih Darwazah, Chairman & CEO of Hikma, commented: 'Thymoorgan is an excellent\nbusiness. Having acquired Ribosepharm in January as a foundation for our\noncology business, we now have the ability to integrate our own oncology\nmanufacturing capability. This is expected to facilitate the expansion of our\noncology business and will help us to meet the rapidly growing demand for\noncology drugs in our Middle East and North Africa, European and US markets.'\n\n\n - ENDS -\n\n\nEnquiries:\n\nHikma Pharmaceuticals PLC\nSusan Ringdal, Investor Relations Director +44 20 7399 2760\n\nBrunswick Group\nJon Coles / Justine McIlroy / Alex Tweed +44 20 7404 5959\n\n\nAbout Hikma\n\nHikma Pharmaceuticals PLC is a multinational pharmaceutical group focused on\ndeveloping, manufacturing and marketing a broad range of both branded and\nnon-branded generic and in-licensed pharmaceutical products. Hikma's operations\nare conducted through three businesses: Generic, Branded and Injectable\nPharmaceuticals. Hikma's operations are based principally in the Middle East and\nNorth Africa ('MENA') region, the United States and Europe. In 2006, the Group\nhad revenue of $317 million and profit attributable to shareho...