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Business
Hikma Eyes Morocco With Acquisition
by Michael McCoy
October 10, 2011
| A version of this story appeared in
Volume 89, Issue 41
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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