Hikma Eyes Morocco With Acquisition | Chemical & Engineering News
Volume 89 Issue 41 | p. 23 | Concentrates
Issue Date: October 10, 2011

Hikma Eyes Morocco With Acquisition

Department: Business
Keywords: pharmaceuticals, emerging markets, Morocco

Hikma Pharmaceuticals has acquired 63.9% of Société de Promotion Pharmaceutique du Maghreb (Promopharm) for $112.2 million and is launching a tender offer for the rest of the firm. London-based Hikma says Promopharm is the ninth-largest drugmaker in Morocco, with a 3.5% market share. Its annual sales of about $45 million offer significant growth potential, Hikma says, owing to its portfolio of high-quality branded generics and in-licensed products.

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