As Arab Spring Stabilizes, Hikma Sees Improved Results And Better Position
This article was originally published in The Pink Sheet Daily
For a company like Jordan-based Hikma Pharmaceuticals PLC with over half of its business operating in the Middle East and North Africa, the first half of 2011 has been a challenging time.
You may also be interested in...
TOKYO - Takeda Pharmaceutical Co. bestseller Actos has been withdrawn for new patients in France and Germany due to a long-suspected bladder cancer risk. Besides shrinking some of the excitement around the European boost Takeda received with its acquisition of Nycomed AS, the withdrawals also call into question the remaining revenue Actos can generate before its main patents expire
As drug makers restart their Egyptian operations, financial analysts have begun to assess the impact of recent events for the pharma industry. As the largest pharma market in the Middle East, Egypt has attracted both multinational and local drug makers, but local firms such as leading Jordanian pharma Hikma may see less disruption from political events than MNC counterparts, according to Credit Suisse analysts
Fast-growing Jordanian drug maker Hikma will acquire Baxter Healthcare's U.S. generic injectables business for $112 million. The acquisition doubles Hikma's injectables business and bolsters the company to the No. 2 position in the U.S. market with a projected market share of more than 15 percent. It also solidifies Hikma's leading position in the Middle East and North African (MENA) market, one of the rapidly growing "pharmerging" markets in the world