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Hikma to buy Egyptian Company for Pharmaceuticals & Chemical Industries

PBR Staff Writer Published 11 January 2013

Multinational pharmaceutical group Hikma Pharmaceuticals is set to buy Egyptian Company for Pharmaceuticals & Chemical Industries (EPCI).

Hikma will pay EGP142.4m ($22.2 m) in cash as part of the the acquisition that expects to strengthen the company's position in the Egyptian market.

The transaction will add 35 products in 46 dosage forms and strengths including 3 original cephalosporin anti-infective brands as well as enhance Hikma's portfolio in key therapeutic areas such as cephalosporin anti-infectives, central nervous system and alimentary tract.

Hikma Pharmaceuticals CEO Darwazah said the acquisition will further accelerate the growth, expanding the company's product portfolio and adding additional manufacturing capacity and technologies.

"We continue to strengthen our position as the leading regional manufacturer in MENA and to pursue other value-creating acquisition opportunities in the region," Darwazah added.

The acquisition is expected to be closed before 14 February 2013.