Navigation Links
Hikma Enters the Moroccan Market Through the Acquisition of 63.9% of Promopharm and Will Launch a Mandatory Tender Offer for the Remaining 36.1%
Date:10/3/2011

n)[6] as of 30 June 2011.  Promopharm had a net cash position of $16.4 million (MAD 129 million)[6] at 30 June 2011.  The acquisition will be funded by new committed debt facilities in the form of a 7-year syndicated loan.  Following the transaction, Hikma's leverage ratios remain comfortable and it expects to be able to de-lever quickly.

Hikma's acquisition of 63.9% of Promopharm has been approved by the Moroccan Ethical Council of Securities (Conseil Déontologique des Valeurs Mobilières ("CDVM")).  Hikma will launch a mandatory tender offer for the remaining 36.1% of the Company, which is listed on the Casablanca Stock Exchange.  Hikma will file a prospectus with the CDVM and following approval of this document, the mandatory tender offer will be launched.  Hikma expects to complete the tender offer by the end of the year.

Commenting on the transaction, Said Darwazah, CEO of Hikma said, "Entering the Moroccan market has been a strategic priority for Hikma for some time and we are delighted to have acquired a company that offers such an excellent fit with our long term growth objectives.  Establishing ourselves as a local manufacturer in Morocco completes our MENA footprint and strengthens our leading position in the region.  Promopharm's impressive product portfolio and its high quality manufacturing capabilities bring exciting growth opportunities for our combined business, both in Morocco and across our other markets in MENA.  The acquisition offers excellent potential to drive value creation.  Promopharm has a strong management team and experienced operational and sales teams and we look forward to working with them.  We will continue to pursue further value enhancing opportunities across our operations."

A conference call for analysts and investors will be held on Tuesday 4 October 2011 at 09:00 BST on London Local: +44(0)208-817-93
'/>"/>

SOURCE Hikma Pharmaceuticals PLC
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6

Related medicine technology :

1. Hikma 2009 Results Interviews With CEO and CFO
2. Inovio Pharmaceuticals Enters Collaboration With U.S. Dept. of Homeland Security to Assess Foot & Mouth Disease Synthetic Vaccines Potential to Help Ensure Nations Food Supply Safety
3. Afraxis Enters Collaboration with NIH as Part of Therapeutics for Rare and Neglected Disease Program
4. CMC Biologics Enters Commercial Supply Agreement with Inspiration Biopharmaceuticals for IB1001
5. Promises Treatment Centers Offers Program Addressing Dramatic Rise in Prescription Pill Addiction by Teens
6. ULURU Inc. Enters Into Strategic Financings of Up to $1.6 Million at a Premium to Current Share Price
7. CVS Caremark Donating $6 Million in Free Flu Shots to Direct Relief USA for Uninsured Patients of Community Clinics and Health Centers
8. Lifetime Products Enters New Product Category: Health and Wellness
9. China Botanic Pharmaceutical Enters into Research Cooperation with Key Laboratory of Forest Plant Ecology
10. Healthcare Information Technologys Growing Role is Addressed in a New White Paper From Chicago Data Center and Managed Service Provider, CoreLink Data Centers
11. Preliminary Lineup of Presenters Set for 7th Annual New York Stem Cell Summit
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/27/2014)... , Aug. 27, 2014 An experimental drug designed ... a viable first treatment for anemia of inflammation, according to ... treatment published online today in Blood , ... (ASH).    Anemia is a condition that occurs ... not function properly. When an individual has anemia, the body ...
(Date:8/27/2014)... 27, 2014 Kewaunee Scientific Corporation (Nasdaq: ... increased its quarterly cash dividend by 9% to twelve ... share, beginning with the dividend payable on September 22, ... business on September 8, 2014. About ... Kewaunee Scientific Corporation is a recognized global leader in ...
(Date:8/27/2014)... and NINGBO, China , Aug. ... Ningbo Menovo Pharmaceutical Co., Ltd, ("Menovo") today announced they ... of generic pharmaceuticals, primarily targeting the United ... agreement, Amerigen and Menovo will jointly develop products for ... . Menovo will be responsible for manufacturing API ...
Breaking Medicine Technology:Drug Represents First Potential Treatment for Common Anemia 2Drug Represents First Potential Treatment for Common Anemia 3Amerigen Pharmaceuticals Limited and the Ningbo Menovo Pharmaceutical Co., Ltd, today announced they had entered into a collaboration agreement regarding the development of generic pharmaceuticals, primarily targeting the United States market 2
... announces that a new market research report is ... Test-Volume-Sales-Forecasts-and-Supplier-Shares-by-Country.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=In_Vitro_Diagnostic title=,The 2011 Prostatic Acid Phosphatase Testing Market: ... Test Volume, Sales Forecasts and Supplier Shares ... US, Europe, Japan ...
... /PRNewswire-Asia-FirstCall/ -- Dehaier Medical Systems Ltd. (Nasdaq: ... emerging leader in the development, assembly, marketing and sale ... today announced its financial results for the third quarter ... Third Quarter 2011 Financial Highlights   ...
Cached Medicine Technology:The 2011 Prostatic Acid Phosphatase Testing Market: US, Europe, Japan 2The 2011 Prostatic Acid Phosphatase Testing Market: US, Europe, Japan 3The 2011 Prostatic Acid Phosphatase Testing Market: US, Europe, Japan 4The 2011 Prostatic Acid Phosphatase Testing Market: US, Europe, Japan 5Dehaier Medical Announces Record Third Quarter 2011 Financial Results 2Dehaier Medical Announces Record Third Quarter 2011 Financial Results 3Dehaier Medical Announces Record Third Quarter 2011 Financial Results 4Dehaier Medical Announces Record Third Quarter 2011 Financial Results 5Dehaier Medical Announces Record Third Quarter 2011 Financial Results 6Dehaier Medical Announces Record Third Quarter 2011 Financial Results 7Dehaier Medical Announces Record Third Quarter 2011 Financial Results 8Dehaier Medical Announces Record Third Quarter 2011 Financial Results 9Dehaier Medical Announces Record Third Quarter 2011 Financial Results 10
(Date:8/27/2014)... (PRWEB) August 28, 2014 A St. ... Danis & Lowe reports that the C.R. Bard ... thousands of consolidated transvaginal mesh lawsuits, recently filed a ... #136 pertains to the pretrial discovery process, and more ... sensitive evidence. , Carey Danis & Lowe is a ...
(Date:8/27/2014)... (PRWEB) August 28, 2014 Recently, BambooIndustry.com, an ... items, has announced that new bamboo panels are ... now providing deep discounts for clients worldwide. All people that ... a discounted rate, from 10 to 30 percent off. ... the new panels. “At the moment, all our new and ...
(Date:8/27/2014)... West Palm Beach, Florida (PRWEB) August 28, 2014 ... star Kevin Harrington, Chairman of As Seen On ... also known as “The Millionaire Maker”. as Excelerate attendees ... real sharks, and will have the ability to pitch ... team of World Renowned Business Experts and Millionaire Mentors ...
(Date:8/27/2014)... (PRWEB) August 28, 2014 Delta, a ... recently added several practical Cat D7R Dozers to its ... company’s senior spokesman has announced that all these items ... this promotion is to expand Delta’s market share in ... proud to launch the special offer; he has much ...
(Date:8/27/2014)... August 27, 2014 Taking its popular obstacle ... Steele Creek YMCA will host its largest crowd at ... Saturday, September 13 at YMCA Camp Thunderbird . ... divisions: adult, youth and teams. Within each division, runners ... their physical limit - for a worthy cause. All ...
Breaking Medicine News(10 mins):Health News:Carey Danis & Lowe Reports On New Court Order in C.R. Bard Transvaginal Mesh MDL 2Health News:BambooIndustry.com: Cheap Bamboo Panels for Clients Worldwide Offered Online 2Health News:Reliable Supplier Delta Adds New Items To Its Used Bulldozer Collection 2Health News:C2 Survival Racers Go to Extremes to Provide Kids with YMCA Programs 2
... , , ... , ... , , , ... ...
... ... ... ... ...
... has studied the international research alliance the Multilateral Initiative ... general and the strengthening of research environments in Africa. ... in areas outside Africa. This has led to a ... problems that dominate everyday life in those areas where ...
... ... iTouch. The innovative torque application is the first of its kind. , ... San Diego, CA (PRWEB) February 22, 2010 -- Flexible Assembly ... iTouch. The innovative torque application is the first of its kind and is free for ...
... , ... Shield of Texas has designated Houston Northwest Medical Center as a Blue Distinction Center for ... Houston, TX ... Northwest Medical Center as a Blue Distinction Center for Spine Surgery. Blue Distinction Centers for ...
... ... ... ... ...
Cached Medicine News:Health News:Statewide Poll: Pennsylvania Must Adequately Fund Senior Care Services 2Health News:Statewide Poll: Pennsylvania Must Adequately Fund Senior Care Services 3Health News:Remuda Ranch Programs for Eating and Anxiety Disorders Sponsors a Special Edition of the Award-Winning Documentary America The Beautiful 2Health News:Remuda Ranch Programs for Eating and Anxiety Disorders Sponsors a Special Edition of the Award-Winning Documentary America The Beautiful 3Health News:Remuda Ranch Programs for Eating and Anxiety Disorders Sponsors a Special Edition of the Award-Winning Documentary America The Beautiful 4Health News:Remuda Ranch Programs for Eating and Anxiety Disorders Sponsors a Special Edition of the Award-Winning Documentary America The Beautiful 5Health News:Malaria research must be based in Africa 2Health News:Flexible Assembly Systems Announces New Torque Calculator App for the iPhone 2Health News:Houston Northwest Medical Center Has Been Designated as a Blue Distinction Center for Spine Surgery 2Health News:Houston Northwest Medical Center Has Been Designated as a Blue Distinction Center for Spine Surgery 3Health News:Houston Northwest Medical Center Has Been Designated as a Blue Distinction Center for Spine Surgery 4Health News:AppDynamics Announces General Availability of AppDynamics v2.0 2Health News:AppDynamics Announces General Availability of AppDynamics v2.0 3Health News:AppDynamics Announces General Availability of AppDynamics v2.0 4Health News:AppDynamics Announces General Availability of AppDynamics v2.0 5Health News:AppDynamics Announces General Availability of AppDynamics v2.0 6Health News:AppDynamics Announces General Availability of AppDynamics v2.0 7Health News:AppDynamics Announces General Availability of AppDynamics v2.0 8Health News:AppDynamics Announces General Availability of AppDynamics v2.0 9
... MaximEyes by First Insight is the ... records solution for eye care professionals. ... with Eyefinitys online servicesrequest VSP authorizations, ... MaximEyes offers EMR, scheduling, billing, demographics, ...
... software- RLISYS provides a ... Support, and Training exclusively ... Ophthalmology, and Opticianry- The ... allowing you to focus ...
... The Advia 120 hematology ... streamline laboratory workflow and ... This analyzer offers a ... assays, meeting the needs ...
The K-4500 automated hematology analyzer offers fast reliable test results of 18-parameter plus 3-histograms, valuable for effective diagnosis....
Medicine Products: