Hikma enhances API sourcing, buys stake in Chinese firm

Hikma enhances API sourcing, buys stake in Chinese firm

2:31 PM, 13th July 2011
Hikma enhances API sourcing, buys stake in Chinese firm

LONDON, UNITED KINGDOM: Hikma Pharmaceuticals has acquired an undiscosed minority interest in Hubei Haosun Pharmaceutical, based in China, through the subscription of new equity for a cash consideration of $5 million.

Haosun, a privately held company, develops and manufacturers niche active pharmaceutical ingredients (API) with a specialization in oncology APIs. Haosun’s current product portfolio and development pipeline, which covers a range of therapeutic areas, fits well with Hikma’s requirements.

Through this partnership Hikma says it gains access to a high quality, long term source of APIs, particularly in the strategically important area of oncology. The transaction demonstrates the continuation of Hikma’s strategy of enhancing its API sourcing and R&D capabilities in key product areas, the company said.

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