Business
Hikma enhances its API sourcing capabilities
Hikma enhances its API sourcing capabilities.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n \nRNS Number : 0956K Hikma Pharmaceuticals Plc 11 July 2011 \n \n\n \n \nPRESS RELEASE \n \n \nHikma enhances its API sourcing capabilities through a strategic partnership with the Chinese pharmaceutical company Hubei Haosun Pharmaceutical Co. Ltd.\n \nLondon, 11 July 2011 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (\"Hikma\"), the fast growing multinational pharmaceutical group, announces that it has acquired a significant minority interest in Hubei Haosun Pharmaceutical Co. Ltd. (\"Haosun\") through the subscription of new equity for a cash consideration of $5.0 million.\n \nHaosun, a privately held company, develops and manufacturers niche, difficult to make active pharmaceutical ingredients (\"API\") with a specialization in oncology APIs. Haosun operates from its state of the art US FDA and EU approved facility in China's Wuhan province and its current product portfolio and development pipeline, which covers a range of therapeutic areas, fits well with Hikma's requirements.\n \nThrough this partnership Hikma gains access to a high quality, long term source of API, particularly in the strategically important area of oncology. The transaction demonstrates the continuation of Hikma's strategy of enhancing its API sourcing and research and development capabilities in key product areas. \n \n----- ENDS -----\n \n \nEnquiries\nHikma Pharmaceuticals PLC\nSusan Ringdal, Investor Relations Director +44 (0)20 7399 2760/07776 477 050\n \n \nFinancial Dynamics ...