Hikma to retain its global Injectables business

Further to its announcement last month that it was undertaking a review of the strategic options for its global Injectables business (The Pharma Letter March 4), Jordon-based Hikma Pharmaceuticals (LSE: HIK) says that it has concluded this strategic review and has determined that this business should remain part of the Hikma Group. The business had been said to be possibly worth $2.2 billion by analysts.

Hikma’s board has noted the significant amount of interest shown in its Injectables business by third parties, demonstrating both the attractiveness of the global injectables market and the strength of Hikma’s Injectables business. The injectables business is performing very well and the Board is confident in management’s ability to continue to execute its Injectables growth strategy.

Said Darwazah, chief executive of Hikma, commented: "After a thorough review of strategic options for the Injectables business, we are confident that retaining and continuing to invest in this business is the best option for shareholders. Injectables offers excellent long-term growth prospects and will remain an integral part of our overall growth strategy. By retaining the business, we will also continue to benefit from our diversified business model, which combines our global Injectables business with our oral generic business in the USA and our extensive presence and experience in the Middle East and North Africa.”