Business
Statement re Completion of Acquisition
Statement re Completion of Acquisition.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n \nRNS Number : 7050F Hikma Pharmaceuticals Plc 03 May 2011 \n \n\nHikma completes the acquisition of Baxter Healthcare Corporation's Multi-Source injectables business\n \n· Acquisition of Multi-Source Injectables significantly enhances the scale and scope of Hikma's \nglobal Injectables platform\n \n· Hikma to focus on quick and seamless integration for customers and employees\n \nLondon, 3 May 2011 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ DUBAI: HIK) (\"Hikma\"), the fast growing multinational pharmaceutical group, announces that it has completed its $112 million acquisition of Baxter Healthcare Corporation's US generic injectables business (\"Multi-Source Injectables\" or \"MSI\"), significantly enhancing the scale and scope of its global Injectables platform.\n \nAs required by the United States Federal Trade Commission, Hikma will divest two West-Ward products, Phenytoin and Promethazine. This will not have a material impact on Hikma's Injectables revenues and will not affect the expected contribution from Baxter's Multi-Source Injectables business.\n \n\"The acquisition of Baxter's MSI business is transformational for Hikma,\" said CEO Said Darwazah. \"The acquisition doubles the size of our global Injectables business and doubles our sales in the US market, while further diversifying our global revenue base. I am delighted to welcome our new employees and customers to Hikma.\"\n \nENDS\n \n \nEnquiries\nHikma Pharmaceuticals PLC +44 (0)20 7399 2760\nSusan Ringdal, Investor Relations Director \n \nFinancial Dynamics &nb...