Hikma Pharmaceuticals Completes the Acquisition of Baxter Healthcare Corporation's Multi-Source Injectables Business
Published: May 03, 2011
As 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.
“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.”
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Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based principally in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe. In 2010, Hikma achieved revenues of $731 million and profit attributable to shareholders of $99 million. For news and other information, please visit www.hikma.com.
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